Bidenomics: The Market Loved JPow's Testimony -- JPow Is Coming Across As A Bit Nervous About Waiting Any Longer -- Did He Wait Too Long?July 10, 2024

Locator: 48100INV.

JPow: getting anxious. If it's a hard landing, but he cuts soon, he will get some sympathy / support for at least trying to prevent a hard landing, but if it's a hard landing and he made no effort to make the first cut by September, he will be heavily criticized. A lot of folks will argue that "they've" been warning him for months. All 20/20 hindsight, of  course.

AAPL: seventh consecutive record close. Even CNBC is getting giddy about AAPL.

TSLA: eleven consecutive days of new highs.

AAPL - 7 -- TSLA - 11: 7/11 --> "7-11 day" -- free Slurpies tomorrow. 

S&P 500 and NASDAQ: record close. 

VIX: just barely above 12.

NASDAQ winner: Micron -- up 5.25%.

Is the market getting too frothy?

My favorite chart: link here.

Link here.

That increase, not only was it a reversal of the two previous months, the increase was not trivial. And, oh by the way, in the process, set an all-time record.

There are a lot of folks who have money on the sidelines -- albeit earning upwards of 5% -- but still -- a lot of folks with hundreds of thousands of dollars on the sidelines are starting to wonder if they just missed the biggest bull market in years.