Bull trap for $Invesco QQQ Trust(QQQ)$  ‌?

I think it is easy to explain the bull rally with interest rates at 0%. But how to explain the "rally" when effective interest rate is at 4.5% and still looking to increase further? There are a lot of "expectations" in the market that FED will ease or even cut interest rates by end of this year. However your guess is as good as mine. Though we will soon know the "truth" soon. 

What I feel is no matter the announcement, market will drop because this rally doesn't have enough "fuel" and there is still a lot of nervousness in the market. I am pretty sure everyone is still feeling the pinch from the rise of their mortgages, higher rental cost & daily expenses are on the rise too. So who is really fueling this rally other than the market makers who are also the ones talking up the market?  

I could be wrong, afterall, why fight the trend? But whatever the case, it is better to be careful in this market and not risk what you cannot lose. If you are uncertain about the market like me, then don't touch it till you get a better picture. If this is a bull trap, FOMO is the last thing u want to do! Good luck guys! Cheers!