Double Bottom Equals to Triple
Market is in an optimistic rebound. NASDAQ reached bottom on Oct 26 and started a strong rebound since Oct 27. It was due to the strong announcement of GDP. According to statistics, after the starting of the rate hike cycle, 18 months later would bring about a recession. Earlier this year, the market was worrying that a recession would come by year end, but now it has a strong rebound even under two wars. The CPI announced this week showed inflation is also controlled under two wars.
The Russian/Ukraine Conflict was expected to end in 48 hours and today is 629th day, some people expect Israel to defeat Hamas in one or two weeks and now it is 41st day. Actually the major force of Hamas has been wiped off, but it is hard to completely destroy the remains inside the tunnel and get hostages released.