The only catalyst left

The only catalyst left for the markets are the actual results of companies. If the next 2 quarters of financial reporting by all companies show significant damage caused by the systemic financial problem, at that point, no one would be in the market. Conversely, those companies that can absorb the shock are set to be in demand.

today, some stocks are already at rock bottom price and I cannot imagine it going any lower - but it will. However, as times goes by, our perception of reality would again be distorted as we become too pessimistic at the point where earnings are beginning to pick up after a period of deflation in productivity.

I'm not trying to imply deflation in monetary terms, because the injection of 2 trillion in fiat money is going to cause inflation where it is not when too much money is chasing too little goods, but when the value of money is diluted aka the diminishing purchasing power of money because it has become banana notes.