JEPI - Even At The Peak Of The Dotcom Mania Stock Market Sentiment Was Not As Euphoric As It Is Today

• As of last week, the Rydex Ratio fell to its lowest level on record. In other words, Rydex traders are now positioned more aggressively bullish than ever before, including the heady days of the dotcom mania 20 years ago.
• Clearly, traders have become intoxicated once again by the strength of the rally off of the March lows.
• For those trying to take the market's temperature here, it's hard to shake off the feeling that we've now crossed the boiling point. For this reason, the stock market may be vulnerable to another reversal.

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