Whenever NYSE margin debt hits an all-time high and then declines, it means the stock market will crash in a few months. (An exception was in April 2013 where the stock market did not crash and margin debt just declined slightly and then went back up).
Look for the DJIA to exceed the current high of 15,677, (which it hit on 9/18/2013), and then decline. Then look for margin debt to decline. This would portend a stock market crash.
However, I think that the market will go up more because of QE3, and also most stock market crashes occur in September or October, so the most likely time would be next September. This is something to watch.
See also
http://aftermath2022.blogspot.com/2013/06/nyse-margin-debt-declines.html
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