Where is the recent retail investor enthusiasm in the US stock market pointing? Just look at the discussion heat on forums. As of mid-January, the data shows interesting changes in the market’s focus.

The ETF tracking the major indices remains at the top of the popularity list, with $SPY( S&P 500 tracking fund) being mentioned 284 times to stay in first place. But the real surprise comes from $SLV( Silver ETF) — this fund jumped directly to second place with 221 mentions, showing a clear increase in popularity. It’s worth noting that rising attention to silver often reflects a new wave of optimism in commodities.

The performance of tech stocks shows a divided trend. Emerging popular stocks like $ASTS(, $RDDT), and $HOOD( take turns in the spotlight, with space communications company $ASTS) being mentioned 247 times, surpassing many traditional tech giants. In contrast, chip leaders like $NVDA(, with 128 mentions, have fallen behind in ranking. The popularity of chip stocks such as $TSM), $AMD, and $INTC is declining, indicating that retail investors’ focus is shifting.

Traditional tech giants like $META with 107 mentions, $MSFT with 91 mentions, and $GOOG with 49 mentions maintain moderate interest, while $TSLA, despite being a star company, only has 52 mentions. Energy stocks and small-cap stocks are also gaining attention, with non-mainstream tickers like $EU and $DTE appearing on the list.

This heat ranking reflects the current sentiment of retail investors in the US stock market: a shift from pure tech enthusiasm to diversification, from chip mania to commodities and emerging sectors. Such changes often signal subtle adjustments in market psychology.