I have a different opinion. CPI has already shown signs of peak a few months back, moreover it is a lagging indicator. So the recent announcement that CPI had decreased was not a surprise at all. It was expected but market just react a few months late to this piece of 'good' news.

Jerome Powell had said multiple times in his speech inflation needs to be controlled. He also said that unemployment needs to rise as additional proof for FED to halt rate hikes. The fact that many firms are now 'downsizing' hint that FED policies  are working in their favour. 

Since this is not a normal recession but a 'FED induce recession' I maintain my view that this recession (if any) will be mild. It will not be 'dotcom or subprime type of crash' as many retail investors had expected.

https://www.google.com/amp/s/www.pbs.org/newshour/amp/economy/federal-reserve-chair-jerome-powell-says-inflation-fight-may-cause-a-recession

Looking at the price action of $SPDR S&P 500 ETF Trust(SPY)$  we are still in a downtrend despite the recent sharp reversal. Is this the start of the new bull? We will need to see higher low and higher high in price action to confirm the trend reversal. However as an investor, I continue to ignore short term mispricing of my favourite companies and continue to DCA. With a longer time investment horizon in mind, I know my investment will work out fine when market eventually recover. 

The worst thing to do is to time the market thinking that one can buy at the lowest. The recent 2 days of sharp reversal again show proof that no one can 'time' the market perfectly. As always, stick to a comfort style of investing or trading so one will not lose sleep over it.