The graph above shows the correlation between the Interest rate, Inflation and the SPX500. (Max timeframe by tradingview)
Once the Inflation goes up, the FED tries to up the interest rate. Once it reaches a plateau and goes sideways, the market goes down ("soft landing", "growth recession","please insert").
So far we didn't reach the peak of rate hikes by the FED, the inflation is still extremely high. So far there is no reason to be bullish again about the SPX500 .
How a "soft landing" is possible, idk. Historically, the market has to contract and SPX500 should go down during the next 6 months.