Top 8 Reasons To Be A Little Nervous About Stocks At These Levels

Everyone seems to have a Top 10 list, so here's this week's Top 8 reasons why traders be a little nervous about stocks at these levels.

1. Low volume: Lowest four volume days of the year for the S&P 500 SPY have occurred in the past 10 trading days.

2. Low VIX: Even with the slight bump up recently, VIX still trading below 12 and at lowest levels since 2007 (except a brief drop in March 2013).

3. 10 days in a row up: S&P E-Mini Futures have closed higher 10 days in a row. 

4. 396 days above 200 Day Moving Average: Second longest streak in past 20 years..record is 525 in 1998.

5. Tight credit spreads: Junk bond yields to Treasuries approaching historic lows...not much reward for greater risk.

6. GDP negative last quarter: And without the Obamacare bump, this likely would've been even worse.

7. QE being wound down: Free money party nearer the end than beginning.

8. Complacency: "So what?" traders say after reading the first 7 reasons.