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[Chart courtesy of MarketWatch.com] Moving the markets The Fed offered no surprise and followed the expected theme of hiking rates by only 0.25% with more to come. A mid-day sell-off reversed with traders focusing on chairman Powell’s acknowledgement of falling inflation: We can now say for the first time that the disinflationary process has started. We can really see that, …

[Chart courtesy of MarketWatch.com] Moving the markets Traders and algos alike continued with their relentless efforts to challenge the Fed’s resolve of hiking rates for “higher and longer” by propelling the major indexes higher on the last day of the month and the day prior to the Fed’s much-awaited policy announcement. Again, much of this January move was based on …

[Chart courtesy of MarketWatch.com] Moving the markets Anxiety reigned supreme ahead of the Fed’s decision on interest rates, with the markets having priced in a meager 0.25% hike. That is despite the countless announcements by a host of speakers that “higher rates for longer” are the current policy theme, yet traders have battled the Fed every step of the way. …

[Chart courtesy of MarketWatch.com] Moving the markets Yesterday’s non-event session heated up in overnight trading, after Microsoft’s earnings at first spiked their stock price due to better-than-expected cloud service results. This moment of euphoria was short-lived, however, after the CEO presented lackluster guidance that would result in reduced earnings. That was end of the rally, and Microsoft tanked, making this …

[Chart courtesy of MarketWatch.com] Moving the markets An early Ramp-A-Thon lost some momentum during mid-session, but the pullback was contained and still enabled the major indexes to close solidly in the green. While the S&P 500 managed to finally break above its 200-day M/A, it was not yet able to hold the move above its longer-term downtrend line, which had …