Single-stock and thematic ETF launches. Product launches cluster at tops; single-stock leverage magnifies the names it tracks.
What to watch: Launch counts; AUM concentration. It arrives monthly, and the effect typically lasts months.
It sits in tier 4 — Stock and sector specific: Moves one company or one group, not the market. Any factor here becomes tier one if it gets large enough — a bank failure and a pandemic both started as somebody's sector news.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
Also in Positioning, sentiment, and fund flows
- Implied volatility (VIX)
- Put/call ratio
- Retail investor sentiment (AAII)
- Fund manager survey (BofA)
- Active manager exposure (NAAIM)
- Fear and greed composites
- Fund flows
- Margin debt
- Short interest
- CTA and trend-following positioning
- Volatility-control and risk-parity funds
- Dealer gamma positioning
- Foreign investor flows
- Sovereign wealth funds and pension allocation
- Retail trading activity
- Crypto markets
- ESG and thematic fund flows
- Pension funding status
- Retail options and leveraged ETF flows
- Market breadth