Yesterday this post, mention to watch the oil and commodities. The reason behind this was that the summer rallies have started with oil and commodities rising, then the rest of the market following and eventually ending with financials topping off.
Here is that chart again, (I changed $WTIC with OIL since its updated real-time on the chart)
The white lines show where oil started to turn down, the green where financials topped.
Oil is down over 3% today and even with the dollar being down. This could be the first sign the market is beginning to look toppy here. Financials are also weak, XLF is down .30% and most financials are in the red.
Here is the live version of that chart above.