On Thursday, US stocks slipped as traders cashed in on red-hot bank and technology shares, while the Federal Reserve’s commitment to easy money to assist the US economy rebound the dollar weakened.

On Wednesday, the Fed revealed that it would probably defense interest rates near zero until at least 2014, around 18 months later than the Fed had suggested in last year, intensified buying of medium and long-term US government debt. The results on five-year US notes reach 0.7538% which low going back at least 50 years.

The retreated in bank and tech shares that have posted double-digit percentage advances so far in January which comes after a disappointing report on new home sales. Housing-tight stocks were among the largest losers.

Larry McMillan, president of McMillan Analysis Corp. said:” This market is exhausted and overbought, and we’re seeing the yields of today, but the housing data did not all wipe out investor optimism in the set of the Fed’s pledge to defense US interest rates low for an extended period. “

Ryan Detrick, a senior technical strategist at Schaeffer’s Investment Research in Cincinnati, said: “All in all, it does look like a slightly of profit-taking on the weak housing data, but we have going good run, and it’s simply time a slight consolidation.”

“We don’t think it’s a key peak, just a slightly of a break here.”