Market Bottom or Just a Bounce?

The stock market started the day off in it's usual volatile fashion with lots of back and forth action ahead of the FED meeting to discuss interest rates and inflation.. Although the market appeared to be oversold and ready to bounce, it also seemed to be patiently awaiting the FED announcement before committing to a direction.. Clearly the market applauded the FED announcement because once the news broke, it took off like a rocket.. Is this a sign of a market bottom or just a bounce.? 

The FED announced a 50 basis point rate hike and a start of balance sheet tapering with a tone of responsibility to do what it takes to curb inflation which the market seemed to respond favorably to.. However, since the market began it's correction in January the FED has met three times in total including today and each time before the market had an unstainable bounce. 

Just because the FED decided to increase interest rates and pullback on QE, does that mean that inflation will come to a grinding halt, supply chain issues will immediately improve and the economy won't continue to feel the pressure? I think not.... 

Also, following the two prior FED meetings, the market undercut prior lows and then rallied into resistance before heading lower again.. 

The market appears to be in big trouble and although the sentiment form the FED was encouraging, I think the rally will be short lived and the overall trend will continue down after hitting resistance near prior lows and the moving averages.