This is a long-term SPY chart that I produced the other day, it looks to me like a massive triple top is forming. Triple tops are like head and shoulder patterns, foretelling of a significant drop. That is a scary proposition, but I should not jump ahead... it has not formed yet. However, with declining volume and volatility at low levels the markets does seem ripe for a drop. I think one still has to trade as a bull in this bullish market, but be cautious. Charts are notorious for not developing the way one thinks, but this potentially huge signal deserves some attention. I recall hearing and seeing charts with very long-term patterns in 2008-09 with the idea that we are in a 14-16 year sideways market and that there would likely be one more harsh drop before the markets started on a true multi-year bull run. Always try to keep an eye out on the big picture.