True, there was a very long lull in suicide bombings, but there still were a good dozen rockets a day fired at places like Sderot, so the "lull" was relative.
There was a very sharp increase in violence and hostility, even if brief. And considering the remarks each side was making, it looked like both were pledging to give everything they had to win (Israel saying it would make much more frequent, "looser" attacks into Gaza, and Hamas saying they would stand up to fight more than before).
What is good and likely WILL have the desired effects, is that 1. the Israeli government is trying to make peace with the official Palestinian government despite everything with militants in the area, and 2. Hamas is realizing that blowing people up with bombs and/or rockets repeatedly, is only hurting their cause and their people, and they probably suffered greatly from the recent major move by the Israeli army into Gaza. What is even MORE important, is that Israel showed it could trust Hamas by standing down earlier then Hamas did, and on the other side Hamas showed they were also trustworthy in that they DID fulfill their part of the informal cease-fire.
To summarize the above paragraph with something that might actually make more sense then a sleep deprived 19 year old, it looks like both sides are standing down to make room for peace, which is a desirable path towards a desirable effect
"I'd hate to die twice. It's so boring" - Richard Feynman, last recorded words.