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[Chart courtesy of MarketWatch.com] Moving the markets Bullish attempts to keep yesterday’s comeback alive ended up failing, as the major indexes surrendered early gains and ended up the hugging their respective unchanged lines with not much to show for. Initially, stocks had blasted higher, despite weakness in the futures markets. For a while, it looked like we were facing another …

[Chart courtesy of MarketWatch.com] Moving the markets It comes as no surprise that the major indexes would eventually manage a bounce back from the brutal losses not only YTD but also from last week, which saw the S&P 500 surrender -5.8%—its worst 5-day stretch since 2020. A more aggressive stance on interest rate hikes by the Fed, and increasing odds …

[Chart courtesy of MarketWatch.com] Moving the markets The much-anticipated Fed announcement came and went, with the Fed hiking rates by 75 basis points, its largest increase since 1994. They also hinted at a similar increase in July, which indicated some seriousness about its inflation fighting efforts, but it also caught traders of guard. It’s been no secret that the Fed’s …

[Chart courtesy of MarketWatch.com] Moving the markets After an early pump, which faded in a hurry, the major indexes dug themselves another hole, but a late session bounce helped avoid a much worse outcome. Still, the Dow and S&P 500 scored another loss, with the Nasdaq clinging to its unchanged line and closing in the green by a tiny margin. …

[Chart courtesy of MarketWatch.com] Moving the markets Friday’s drubbing was followed by an ugly overnight futures session, which already pointed towards another knock-down of the buy-and-hold crowd and the dip-buyers. Things got worse as the fifth largest ‘sell program’ in history was launched, as ZeroHedge elaborated, and wreaked havoc with the markets, while sending the S&P 500 back into official …