Several indicators to be aware of.

The trade has been risk on, conservative off. In other words, sell every conservative (tangible, real) Thing in order to buy risk assets.  So gold and silver have gotten screwed but so has oil and copper.  Meanwhile, risk assets (AKA discretionary purchases) like tech (and especially biotech) have gotten tons of buyers, most of who are using debt in order to "buy".  They just ran the biotech ETF (IBB) up to almost exactly $300, a nice even value with psych resistance.  Now it is sporting a DDT and it looks like it is forming The Owl. MSFT shares kissed exactly 50 (well, $50.045).

Zooming way in on just the breakout wave:

In other posts today I indicated that on Monday the markets would have to out themselves one way or another.  They would either be 5 of 5 or 1 of 5 of 5.  These indicators, including the chart of MSFT and others, strongly lead me to believe that early next week, as in Monday or Tuesday, the Ponzi Price of the entire 2009 fed pumped asset price explosion will peak and then real conviction selling will begin.  I expect the DJIA to eventually trade well below the 2009 low.  DJIA 3k or less would not surprise me at all.  The markets are as much a debt Ponzi as everything else that is pumped by fake money.
 
Also, smart Guy Dennis Gartman just covered his oil short.  Not because of the so called fundamentals (which I claim are in fact unknowable) mind you, but rather because of technical indicators.  I bet that turns out to be a darned fine nice piece of marketing timing Dennis.

While there is no certain Thing in life, the odds are stacking up against the debt Ponzi markets.  Look for a breakout in M+M as well.