Its possible we are at or near breaking the current trend but again maybe the ratio continues to goes lower. In fact just recently the ratio made new lows during the month of November (lower than both 2000 and 2007). For now its worth watching the current trend that has developed from 2011. During the pull back in Oct, the ratio moved up to touch this trend and reversed lower after that touch.
Here's closer daily look at just the past few years. Additionally, you could probably make an argument that the most recent trend broke with the selloff that occurred in Sep/Oct (as drawn here on the daily vs the weekly above). Again as noted before, this likely one something that will only be clear in hindsight as to when the exact trend line broke.