Everything is rallying

92% of NYSE issues went up on one of the biggest 1 day rallies in market history.

When this happened while the S&P was more than -20% below a 1 year high (i.e. in bear market territory), the S&P had a very strong tendency to rally over the next few months and year. While this didn't always mark the exact bottom of a bear market, by then the worst of the selloff was over.