A pause in the historic stock market rally could be just days away, according to UBS Financial Services Director of Floor Operations Art Cashin.
Cashin, a fixture on the floor of the New York Stock Exchange since 1964, believes the market has gotten ahead of itself. His call is based on the Dow's speed to 20,000, low volatility and what generally happens during a president's first year in office.
"That thousand point move from 19,000 to 20,000 was accomplished in 42 days. And, that's very fast. That's the second fastest thousand point move in the history of the Dow," observed Cashin recently on CNBC's "Futures Now."
And, it was done on very low volatility — a trend that isn't sitting well with the Wall Street veteran.
"It is a little discomforting to old timers like me to see you make brand new record highs — multiple record highs — and see the VIX hanging around ten," speaking about the "fear gauge" that serves as a barometer of market fear. "You start to worry 'is that a sign of complacency and where's it going?' said Cashin.