Flows are rotating into FRSH while ESE weakens

🇺🇸 Equities are seeing a notable flow reversal today, with outflows edging past inflows and a clear tilt away from momentum stocks. The largest outflow remains from $ESE (ESCO Technologies Inc.), shedding $199M, indicating a shift away from the theme’s recent strength. Meanwhile, fresh buying has concentrated into FRSH, which attracted $78M, signaling renewed interest in the sector. This flow pattern suggests traders are beginning to unwind the recent rally in ESE and similar themes, while positioning into more defensive or growth-oriented names like FRSH. The key next step is to confirm whether this rotation broadens beyond a single leader; if inflows into FRSH hold and expand, it could mark a more sustained shift in market sentiment.