Hint? "This has NEVER happened before. Previously even a hint of monetary loosening was enough to make stocks rally hard. This time around the Fed clearly acted to support the markets and the markets didn’t respond."

"...Which brings us to today.

Stocks have cratered, slicing through the 50-week moving average with little difficulty. The Fed, unable to announce a new QE program due to political pressure (the media has picked up the narrative that QE increases wealth inequality) decided to deal with this by maintaining interest rates at zero at a time when over 80% of economists thought it was time to raise them.

Despite this, stocks barely bounced and began to break down again.

This has NEVER happened before. Previously even a hint of monetary loosening was enough to make stocks rally hard. This time around the Fed clearly acted to support the markets and the markets didn’t respond.[Emphasis added.] 

A TECTONIC shift has begun in the markets, if they no longer respond to the Fed's efforts to boost them, then it is GAME. SET. MATCH. for the Fed and its policies.

At that point, the END GAME will begin... ."

Graham Summers, Phoenix Capital Research

Source (edited)