Hey all, I've been putting some serious thought into the current "structure" of the market. Without question its incredibly bullish, and calls on practically anything (no joke, literally anything) would have made you money over the last few months. I'm a younger trader and have only really seen the last 6 years of market movement, but have noticed that with the exception of a "spook" or "catalyst" the market basically goes straight up.

Due to this it seems that at least 80-90% of the time you should own calls. At least on indexes, perhaps not on individual stocks since they do seem to be more neutral at times. Is this because of a new market cycle, or is it the natural state of the market? I've looked back pre-2008 and there were periods of flat movement, but since 2008 it has been a linear movement straight up with a few corrections thrown in.

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Is it even possible for the market to pull back (truly pull back, not one or two down days) without a huge catalyst?

Any thoughts or opinions are welcomed!