Top 5 Charts of the Day – June 7th, 2020

Investors are way too optimistic.
-Huge net short is not bullish
-Put/Call ratio is back to levels in January
-Overbought conditions are all at extremes.https://t.co/oH78eV5mdN pic.twitter.com/EimJHOPo83

— Lance Roberts (@LanceRoberts) June 6, 2020

4. The put call ratio can stay irrational longer than you can stay rational?

Sell-off/correction risk is elevated at these levels.

h/t @ThinkTankCharts $SPX $SPY pic.twitter.com/WPtV4AQ2YW

— Callum Thomas (@Callum_Thomas) June 6, 2020

The S&P 500 Hasn't been this far above its 50-DMA since 2009. https://t.co/FaC8XlFvjQ pic.twitter.com/8wRT2XgTSx

— Bespoke (@bespokeinvest) June 7, 2020

Record Stampede Into Stocks: Nasdaq Volume Hits All Time High As Put-To-Call Ratio Craters https://t.co/Ayc8fkhfeg

— FreeZerohedge (@freezerohedge) June 5, 2020

This is stunning.

At the peak of speculative fervor in February, small traders bought to open 7.5 million call contracts.

This week, they bought 12.1 million.

Watch what people do, not what they say. They're full-bore bullish, on steroids. pic.twitter.com/T1v74xq1Of

— SentimenTrader (@sentimentrader) June 6, 2020