Where are we in the market cycle ?

Its clear there is a ridiculous amount of optimisim in the market regardless of anything thats going on War - Up Corrupt president - Up Tariffs - Up private credit collapsing - Up A.I bubble - Up Crypto collapsing - Up $100 Oil for months - Up Weak Consumer - Up inflation and fake econmic data -Up Mag 7 doing nothing for years - UP So what exactly does this scream !?! This to me is past Euphoria its at a point where it feels like nothing can stop the upward momentum. It screaming complacency whatever way you want to tart it up the market is pricing everything with an insane amount of nonchalance and complacency. If the tradtional market cycle is to be adhered too as it has done throughout history complacency is a very very dangerous stage of it.