Records everywhere – and while worried in some ways (mostly geopolitical), it’s not extremely overbought, and that’s been the point, especially aside S&P. 
depositphotos CPI indeed was a tad shy of consensus, but dig into it and it would be lower by a considerable degree if not for increases in things like ‘auto insurance’. In any event no impediment to the market despite a couple minor dips and beat goes on. But again while well-along for big-caps, early stages for small-caps. 
The Fed has signaled they’re not raising rates, which means more than just not cutting rates yet. It’s sort of a signal or warning to favor equities over bond buys, and that’s evidence by the achievement of more record highs today. 
Market X-ray: New highs, and as noted not extremely overbought. Sure there are variables, geopolitical issues, overdue for mega-correction, but it’s a new AI-driven world. We have allowed for pullbacks but not catastrophes barring exogenous events. So ‘what’s next’ is the question, and that’s still pending. 
Bottom-line: The market is starting to show interest in lower-cap stocks, even SOUN saw several larger buys this morning… it’s recently over 5. So it’s not easy, requires buying dips of basing patterns, not surges, but if this election year bull market is to continue expanding, there needs to be broader interest.
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