Israel-Iran's latest exchange should matter for a few days only, rather than define a new trend. Short-term noise. More akin to the 2024 Israel-Iran armed conflict than major wars. The question is when to BTFD. Recall the 2024 timeline: - Apr/12. First dip as rumors spread. - Apr/13. Second dip on Iran’s attack, its first direct missile barrage on Israel. - Apr/14-18. Markets on edge awaiting Israel's retaliation. - Apr/18. Israel retaliates. A measured attack which avoids major targets. Market soars. Both sides then signal a pause, reverting to clandestine activity.