To The Moon

January 22, the US stock market once again achieved success, with the $S&P 500(.SPX)$ $NASDAQ 100(NDX)$ Nasdaq Technology Index, and Semiconductor Index all reaching new closing highs, while the $DJIA(.DJI)$ had already reached a new high at the end of last year.

BYW, small-cap stock indices also rose by more than 2%, exceeding the gains of large-cap stocks, which may cause a reversal of funds within the market.

Differentiation is not only among sectors, but rather between individual stocks, highlighting the need for some investors to take profits and adjust their positions.

No directions at all.

The differentiation between large and small caps actually began at the beginning of this year. From the performance of the corresponding ETFs, it is also evident that large-cap stocks have outperformed small-cap stocks, and growth stocks have outperformed value stocks.

In terms of fund flows, the largest global index ETF, $SPDR S&P 500 ETF Trust(SPY)$ has seen obviously outflows, while the other two $iShares Core S&P 500 ETF(IVV)$ $Vanguard S&P 500 ETF(VOO)$ and the value one $SPDR Portfolio S&P 500 Value ETF(SPYV)$ have seen inflows. Overall, there is still a net outflow, although there was a large inflow in the last month of last year.

On the other hand, there have been significant inflows into the $Invesco QQQ Trust-ETF(QQQ)$ and Invesco $Invesco NASDAQ 100 ETF(QQQM)$ while there have been significant outflows from the $SPDR DJIA ETF(DIA)$

Mid-cap stock ETFs such as $SPDR S&P MidCap 400 ETF Trust(MDY)$ and small-cap stock ETFs like $iShares Russell 1000 ETF(IWB)$ $iShares Russell 2000 ETF(IWM)$ $Vanguard Russell 3000 Index Fund ETF Shares(VTHR)$ have seen significant outflows.

Therefore, in the short term, the market has accumulated a large amount of funds in large-cap stocks, and there may be pressure for a short-term pullback.

In terms of industry sectors, apart from the $Technology Select Sector SPDR Fund(XLK)$ (not surprising), the best-performing sector this year has been the $Communication Services Select Sector SPDR Fund(XLC)$

In terms of fund flows, the technology sector is not seeing the most inflows; instead, there are relatively more inflows into the $Financial Select Sector SPDR Fund(XLF)$ and Health Care Select Sector SPDR Fund (XLV). On the other hand, there have been relatively more outflows from the $Energy Select Sector SPDR Fund(XLE)$ $Communication Services Select Sector SPDR Fund(XLC)$ and $Consumer Staples Select Sector SPDR Fund(XLP)$