Quantitative models indicate that the upward trend in U.S. stocks is approaching the "mania" zone

Golden Finance reports that on May 8th, the U.S. stock market experienced a historic surge, reaching new highs, but signs of overheated sentiment suggest that this rally may be entering a slowdown phase.
The rebound since the March lows, partly driven by expectations of easing tensions between the U.S. and Iran and significant corporate earnings growth, has pushed investor sentiment close to the “euphoria” zone indicated by Bloomberg Industry Research Strategist’s quantitative model.
The model tracks six indicators, three of which have driven sentiment to this level: high-yield corporate bond spreads, low volatility, and pairwise correlations.