The Nasdaq 100's price-to-earnings ratio (P/E ratio) has reached an all-time low. It's nearing the bottom of the 2022 bear market. You ask why there hasn't been a violent rebound yet?! Because short-term Treasury yields are too high, heavily suppressing P/E ratios. Why are Treasury yields so high? Because oil prices have remained high for six months. Why are oil prices so high? Ask Trump!