Stock/Bond ratio reaches a new high

The stock market's nonstop rally has pushed the Stock/Bond ratio to the highest level since the Q4 2018 stock market crash:

As is the case with most extreme sentiment readings, this could lead to a short term stock market pullback, but over the next 6 months usually led to more gains:

Meanwhile, it seems as if most traders are having a great time given that SPY Optix's 100 day average is at an all-time high:

Looking at this from a different angle, 42 days in the past 7 months saw the S&P rally more than 1%:

Such powerful rallies in the past usually led to weak returns going forward: