Stock theme rotation in one chart

“What has worked well for the past six months will still work when interest rate cuts are re-evaluated, the possibility of a change of government increases, and AI is re-evaluated?” Goldman's FICC & Stock Desk asked. “As the rotation we pointed out last week continues, considering changes in market dynamics, I think it makes sense to gain momentum. This is shown by large stocks (NYSEARCA: SPY) (IVV) (VOO) surpassing small-cap stocks (NYSEARCA: IWM) for 5 consecutive days, the worst since 2020.”

A chart of the rotation for the past 5 days compared to where funds flowed until 7/9 was provided.