Current data shows that retail investors in the US are cooling off.

If institutional funds also start to slow down later, it’s something to watch closely. What needs to be observed now is whether, after retail sentiment cools, institutions can continue the momentum.

As long as ETF net inflows, corporate buybacks, and institutional allocations remain ongoing, the market still has support; if these funds also begin to weaken, that would mean a real change may be happening. ​​​