Market Rotation Theory (S&P, Nasdaq, Dow & Russell)

Something interesting i've been noticing in the market since the lowest lows back in October 2022 is that the "new bull market" appears to be activating in stages, kinda like it's going in rotation from one investment class to the next:

-Dow Top Performer Q4'22
-S&P Top Performer Q1'23
-Nasdaq Top Performer Q2'23

And if this were to continue then it's entirely possible that Russell 2000 could be the Top Performer in Q3'23 for a couple of reasons:
1. Held up decently well during the Mini Banking Crisis of March 2023
2. Appears to be in a massive accumulation phase & potentially making in Higher Lows
3. Small Caps were the first to crash back in Q4'21, front loading what was to come in 2022, which means that it'll be the last to run with potentially decent risk to reward ratios.