Given the incredible run that the stock market has had since the election, Jim Cramer thinks it is time to find out if there are any warning signs that the market should be taking more seriously.
The first flag to hit his radar was the Weekly Investors Intelligence survey of bullish and bearish newsletter writers. In its latest report, the number of bulls was at 60.2 percent, with only 18.4 percent bears and 21.4 percent anticipating a correction.
"When everybody's bullish, it means there is no one left to buy. A healthy rally needs plenty of bears who can be persuaded to change their minds," the "Mad Money" host explained.
Otherwise, stocks can run out of fuel. Historically, if the bullish percentage goes above 60 percent it is an indication that investors are getting complacent and the market is about to top out.
To find out if investors are getting complacent, Cramer spoke with Mark Sebastian, a technician and co-founder of OptionPit.com and Cramer's colleague at RealMoney. Sebastian is an expert when it comes to the CBOE Volatility Index (VIX), which measures the level of volatility that traders are expecting in the near future.