My thoughts are that people will start to realise that the...

My thoughts are that people will start to realise that the pressures on all retailers aren't going away for at least another year, by which point even if we will see interest rates falling, the effects on bottom dollar/earnings won't be seen for some time after and therefore won't be 'fully' reflected in share price.

Financially, this will mean that companies under stress now, won't be improving and I suspect the bullish outlook/sentiment may diminish as the general narrative changes from when will the peak occur, to how long before companies financially recover. For those gems that can outperform however, the rally will continue or hold price steady.

Even with a forward viewing market, it's a tough ask for any retailer to beat the market, when people are financially at their worst. A good chunk of fixed rate mortgages haven't swapped to variable, so the full economic pinch hasn't been fully accounted yet either.

Patience for the right announcement will pay off to those who buy when the time is just right and not jumping the gun. From a short term TA view, I believe at the minimum a double bottom is likely, if not a lower low.