Recent data indicates a notable shift in investor sentiment, with 60.6% of investors expressing a bearish outlook, the highest level in a year. This bearish sentiment is particularly pronounced among individual investors, marking the second-highest level since the Great Financial Crisis. In contrast, Interactive Brokers reports that retail investors are currently very bullish, characterized by high speculation in major tech stocks, referred to as the 'Magnificent Seven,' and a preference for leverage. Additionally, February saw a record average of approximately 59 million options contracts traded daily, the highest since 1973. The volume of S&P 500 zero days to expiration (0DTE) options surged to a record 56% in February, with total SPX options volume reaching 3.49 million contracts, highlighting a trend of speculative trading in the market.