January typically marks a critical rebalancing window for portfolio managers. When scanning current market conditions across asset classes, the outlook reveals some striking imbalances.

Commodities are sitting on a powder keg—most charts suggest they're overextended and primed for mean reversion. A pullback here wouldn't be surprising.

Tech stocks? Already running hot. Valuations have stretched to uncomfortable levels, and the risk-reward dynamic has flipped. Fresh capital flowing into an already-inflated segment feels like chasing momentum at precisely the wrong time.

This is the kind of environment where capital rotation becomes decisive. Where are investors actually deploying fresh dollars? That's the real question to watch.