The U.S. equities are trading at fresh highs while numerous fundamental and technical indicators are flashing red.Bankruptcy filings are up—446 large companies have collapsed so far in 2025, while market breadth has cratered to levels not seen since 2008. Valuations are superbly stretched as Robert Shiller's CAPE ratio is hovering near dot-com peaks, and Warren Buffett's market cap-to-GDP gauge signals a warning.Timing The BubbleAdd it all together, and the ingredients of exuberant optimism are there. Still ...