The S&P 500 has maintained a negative trend and even with today's bounce doesn't seem to be making a convincing rally. 

However, there are several other indicators that give me the impression the bottom is in. 

If we look at the S&P 500 equal weight it looks like there is a very clear inverse head and shoulders pattern that took place on the 5 week chart indicating a bottom is in, and a strong upward move is coming. 

In addition, many energy stocks seem to be forming upward channels, and they were the hardest hit by Omicron and corona, beginning their sell offs weeks ago. 

These are technicals, and we're not a technicals channel, but they do back up our fundamentals.