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It may be a little more than stock market but rather the market phenomenon.

In a dead cat bounce, as you note, there is an extreme pressure from selling. When the market bottoms out, people will get in and this will cause a limited rise which is the "bounce". But the selling pressure has been so extreme that it's limited in recovery. The selling resumes and pushes things back down. Typically a market will go through these gyrations several times until a new base is established and then things can go forward longer term. IMO this reference to "dead cat bounce" is more in line with the idea that the deep state is lashing out and trying to keep from going under, and they've had their fun with Parkland and demonstration today (WH) - but it's not sustainable ... and events + efforts against such shall continue ;)