Yeah, but I would suggest that one can't apply routine technical...

Yeah, but I would suggest that one can't apply routine technical analysis to a freak unexpected occurrence. Sometimes one has to to look beyond technical indicators and examine the specific circumstances that led to the unusual drop on unusual volume. Was it based on overwhelming afternoon fear and panic?

Think about the possible outcomes of a senate inquiry, and think about the likelihood of those different outcomes. Then make a decision to buy or sell based on that.

I would argue this whole thing is overblown, and actually an opportunity.