The Russell 2000 is up 4% year-to-date, while the Nasdaq is flat, suggesting a potential shift in market leadership. This follows a previous prediction that 2026 could be the year for small and mid-cap catch-up, with the Russell 2000 having gained 11% in a prior period, albeit less than the Nasdaq. The author anticipates a decline in Mag7 dominance as market cycles evolve.