Last trading day of Aug 2022

Aug was a “bipolar” month. First, we have a run of near 6% in 12 trading days and later are experiencing a -7.8% in 12 trading days. If today we end up having a flat day the SPX is likely to end up negative for the month and near -16% for the year. It is
Sentiment is getting positive again after the SPX went for -23 to -11% in the last few weeks. Today inflation numbers created a GAP on the SPX. Will it be able to consolidate 4200? Time will tell. Managers that did not purchase last bottom are lagging the Indexes performance and shorts that wanted to see

FED Update –> 1.5% to 1.75%

From Refinitiv: The action raised the short-term federal funds rate to a range of 1.50% to 1.75%, and Fed officials at the median projected the rate increasing to 3.4% by the end of this year and to 3.8% in 2023 – a substantial shift from projections in March that saw the rate rising to 1.9%

How is the market bottom confirm?

Are you considering the the bottom might not occur during 2022? Of course, nobody knows with certainty. The ultimate sign is that nobody wants to buy. The comments related to investing almost become toxic.