Thanks TRADINGVIEW for adding the MONTHLY time frame. A monthly frame helps to asses the BIG PICTURE.Currently we have mixed messages.The main trend is still UP, we have a green candle(not complete)above the 10(+8)SMA and the DPO still above mid point.The negatives are the lower bars of the DPO,and the stochastic Is falling below 80.Now the BUBBLE METER. As you can see the BUBBLE METER peaked at all 3 SPY tops except in 1999 where it peaked early. At the moment the BUBBLE METER has DIVERGED from SPY which could mean bearish conditions going forward. -------------- THE BUBBLE METER: an interesting article I read in the Nov.2011 issue of Technical Analysis of Stocks & Commodities.The point of the article is basically that investors and speculators with BLOATED portfolios bid prices higher for collectible art work. BLOATED portfolios are a signs of market tops.