Recently, there has been a particularly interesting phenomenon—funds are quietly entering the market. On the surface, market sentiment looks good, but a deeper look reveals that what is truly driving the trend is real money.

VOO has absorbed nearly $10 billion in the past few days, which is no coincidence. What does this indicate? The money has already been strategically allocated in advance.

But there is a question worth pondering: entering the market early is equivalent to placing an early bet. What are we betting on? The upcoming economic data.

Let's take a look at next week's schedule—CPI, retail sales data, PPI, initial unemployment claims, one after another. Any unexpected fluctuation in these data points could serve as a trigger for investors to take profits. Don’t be fooled by the current positive market atmosphere; this situation is actually quite fragile.

Another background factor that cannot be ignored is the Federal Reserve’s stance—it's been clear for a while that the next chair has not yet been decided, so no major policy moves are expected for now. This "tough but not aggressive" stance gives the market a false sense of security.

The key word for the upcoming market is: data. When economic data clashes with the Fed’s firm stance, whether the indices can hold this wave will be the real test. The potential for this week’s gains may be already overextending the stability for next week.