Precariously Perched S&P

FX:SPX500   S&P 500 Index
We have been in similar circumstances and this market feels much like 2007/2008 to me.

While we are currently over monthly moving averages, the Stocks above their MA50, the Coppock Level and the Squeeze Indicators all suggest prudence. Then again, based upon the VIX             and TVIX's price, there isn't much volatility in the markets, right? Smirk.
It looks similar, but in my research I have found that the chart is actually MUCH more similar to the dip in the year 1998.
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