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I suppose it is pretty well established by now that the market baked in 6 rate reductions this year while the fed was thinking more like 3 reductions. When that sinks in at the next fed notice things will take a further hit. The moderating factor of course is all that inflation has to go somewhere; at least moderate increases in profit. If it comes to light that the fed will actually do something more like a rate increase before a decrease panic will ensue or at least serious disappointment. If they choose to back bidet they may hold. Time will tell. I expect the market direction is down though.

I will do mostly what I always do; buy more S&P ETF, more dividend ETF and pare down bonds since I hate them. Not very exciting, not very aggressive, not very technical but it works for me. After I have seen so many companies borrow or sell their children to continue a dividend I think it is as good or better than a bond that gives you paltry interest and your money back instead of a comparable dividend and inflation plus growth back.

Milk the cow, grow the herd, gather the eggs and save some chicks, harvest some hens and sell the old cows before they become unproductive.

“I suppose it is pretty well established by now that the market baked in 6 rate reductions this year while the fed was thinking more like 3 reductions.”

$$$$$$$$$$$$$$$$$$$$$$$

And then there’s this:

https://finance.yahoo.com/news/theres-meaningful-chance-feds-next-041452480.html

“There’s a ‘meaningful’ chance the Fed’s next move is a rate hike, former Treasury Secretary Larry Summers says”

Especially with recent upside surprises in the inflation indexes...

“sell their children “

I just love that one .

I think you seem to have a very solid over view of the whole thing and a very workable approach to handling the market.
I don't think you started yesterday ...

I hate bonds also ... if I see a good spike in yields
I will probably dump everything in.
But I'm talking 1981 .... I'm getting to old to ride the train...... but I'm actually hooked on the adrenaline, I don't know where I could get the rush.
It's better than a bass boat.

will do mostly what I always do; buy more S&P ETF, more dividend ETF and pare down bonds.

12mos. CDs are paying 5.4%. Been through severe recessions. At my age I'm content and sleep easy with 60% S&P 500 and some defensive ETFs - and 40% U.S. Bonds/CDs.