Nasdaq 100 (USTech100) peaked at nearly 18,900 while S&P 500 (US500) futures contracts retraced to 5,200 only recently, through late May. Brushing up on my overview of the Wall Street sentiment at that moment, I saw an initial target price in the direct vicinity of 20,000 points for the tech-heavy Nasdaq, also considering 5,500 points as the next reasonable target for the broad market index. Now both milestones are almost reached, as today's intraday climbing stopped at only 11.2 points and 16.4 points from their round top figures. It's high time to take profit (this option is better suited for short-term speculators), or to set new goals (for mid-term investors like me). I would define and restrict my realistic dreams by 5,700 for US500 and 22,500 for USTech100, respectively.

It doesn't have to be a dramatic breakthrough above 20,000, but would rather resemble water dripping through the soil and rocks. Yet, I feel this is only a matter of time and a short wait during the three summer months, maybe September too. Easing inflation pressure in the form of U.S. consumer prices reading at 0.0% from 0.3% in monthly indications and 3.3% YoY (from 3.4% in April) probably mattered more to the market conditions than the Federal Reserve's projections with one single interest rate cut before the end of 2024. Both news were released last Wednesday, on June 12, ultimately composing a winning combination for Wall Street bulls.

Perhaps the market believes that central bankers are simply too shy to declare their real intentions in advance but they will be ready for changing a more-hawkish-than-dovish stance in autumn. Another opportunity is that the markets didn't have a care in what the Fed actually says, as most Lilliput private investors in the crowd led by institutional Gullivers are too anxious to get rid of cash by transforming it into AI-related growth assets.

After a 10-for-1 NVIDIA stock split, the global chip leader's value rose by another 10% to above $133 (formerly $1330) per share. Other AI favourites of mine are trying to match the tone, with Broadcom (AVGO) just skyrocketing above $1800 this month, Dell jumping by nearly 7.5% in one trading session, Micron Technology (MU) also gaining more than 6% today (and soaring more than 25% since the beginning of June), and Qualcomm adding nearly 11% only for the last ten days. I mentioned all the three companies several times in my posts, which would be enough for the topic. Meanwhile, a collaboration between Microsoft's Azure and Oracle on cloud platforms and data centre development is the other pole forming the point of application of force for the investing crowds. Both giants are refreshing their all-time highs to help this market earth revolving in the same, and prevailingly bullish, direction.