I admire your optimism, DE. Recent bear markets have been short but painfully steep, and they don't turn until fundamentals turn. Part of the problem is that we geezers have memories. In 1973 the price of crude oil doubled (from $2 to $4) in a week, then trickled up to $5 over the next year. Everybody paid attention to the shortages caused by the Saudi boycott, but not the price change. The price change had no significant effect for about two years, until late 1975, when inflation suddenly jumped and kept steaming upward until 1981 or 82. What had happened was something that would take an economist to explain, but for the first couple of years the first-line companies ate the losses until it appeared that the higher price was here to stay.
It wrecked the presidencies of both Gerry Ford and Jimmy Carter, and kicked a hole in the economy until 1984 or so.
What the market is seeing is that inflation has started to pick up, exactly two years after the price of crude started to jump. What that means is that we're looking at a shitstorm of very high interest rates, high unemployment, and dropping corporate profits.