Is This a Bottom?

From j p morgan, signs of capitulation. Percentage of companies trading below cash and short term investments going back to 19 90 was the highest hit's ever been. I'm overweighting this isn't a bottomand i hate to say it, but i think that this maybe is a copout. But people got overly pessimistic too early. People priced a recession too early. Didn't come to fruition. Earnings are better than expected. Less hawk ish fed. Now we get the bounce. But i think we will see data soften. The housing market could easily roll over. And the market is forwr looking all ga elens,. reason this is not a bottom, inflation might