The US stock market just did something that has never happened before. As the S&P 500, Nasdaq, and Russell 2000 hit a new ATH yesterday, bulls got euphoric. Over $2.6 trillion worth of S&P 500 call options were traded yesterday, a new ATH. Here's why this matters. Almost 60% of every S&P 500 option was a call, the highest in at least 7 years. This means people are increasingly betting on more stocks' upside, despite a V-shaped recovery. And the timing of this is really bad. The US stock market is overvalued by most historic metrics. Hedge funds are consistently dumping stocks. BOJ has intervened in the yen market 4 times over the past week. $400B-$500B stocks are pulling a 20%-30% move in a day. This is not the beginning of a rally, but rather the last phase of euphoria. Smart people know what's coming next.(Crypto Rover)