Thoughts on the latest tech push and upcoming CPI data

Been watching this tech rally closely, and it's certainly had some legs. Seeing $MSFT up over 5% today, hitting 372.97, really highlights the current appetite for growth, even after a substantial run. It's a bit of a head-scratcher with the Fed's stance still being somewhat hawkish, but the market seems to be front-running potential rate cuts, or at least a plateau. On the flip side, $AMD pulling back a bit today to 521.58 after its recent moves reminds us that these sectors can be volatile.

The real test for me is going to be the upcoming CPI data. If we see core CPI remain sticky, it's going to put some serious pressure on the Fed to maintain their current stance, or even signal further tightening. That could quickly deflate some of the exuberance we're seeing in names like MSFT and AMD. I'm keeping a close eye on the bond market's reaction, especially the short end of the curve. My watchlist right now is heavily weighted towards names with solid cash flow and less sensitivity to rate hikes, but I'm also looking for potential short opportunities in overextended growth plays if the CPI number comes in hotter than expected. It's all about managing that risk/reward going into next week.