When I watched sportscenter this morning, it honestly looked like contact was made on the elbow. Granted that call isn't made 99/100 times, and the ref totally watched to see if it went in, but by the rules it looked like a foul.
However, I am convinced if the exact same motions were made by a "superstar" we wouldn't be having this discussion. For example, if it was LBJ, people would be talking about how his defense won the game on the last play, like Smarts should have.