Do you think this is a bear market rally or do you expect some short term upward movement from here?

So as far as I know, inflation is still high up and there’s been somewhat bad news from every fed meeting (how they are still trying to battle inflation and will do everything to bring it back down with rate increases), but all of the sudden market is on a upward movement this week. This rally has happened before back in May and it dropped soon after. Were there any good news that I’ve missed? Are we expecting flattening out inflation when Jpow comes on again on the 29th? Or is this just another rally?