Today's Call Buying is Great News for Bears

Intraday equity put/call ratio is 0.54.

Also, the most recent AAII sentiment survey shows that retail investors are still very bullish, with the bull/bear spread above 20% yet again. 

Bulls have gotten really comfortable with buying the dips. They're pretty sure that "the Federal Reserve will act soon to strengthen the economy," as if that was even possible.

The problem is that, sooner or later, there is going to be an unpleasant surprise and the bulls will be caught extremely long and unhedged.