The current sell off may end upon digestion of one more bad news.
The 1st bad news was ominicron, the 2nd is Powell's tappering talk, and the 3rd will be something like the debt ceiling issue.
When this leg down is over, likely there will be another failed bounce.
Then another bad news is out and sell off follows. It might be a time to buy the dip.
Combined, it is a typical three step punch: 1st bad news triggers a pull back; 1st wave of dip buyers jumps in and push up the market. However, the buyer side is exhausted before a significant high. Then 2nd bad news is out and pull down the market further. Another round of dip buying ensures, and the market recovered. Yet the rally is spoiled by a 3rd bad news, and the market then accumulated sufficient buying power.
YMYD
