Fast Money trader Guy Adami has been forecasting a sharp downturn for some time.

In fact, the Negotiator has been a voice of caution on the desk for a couple months. That’s not to say for the entire ride up he’s been bearish – he hasn’t.

If you watch the show regularly you know during the fall rally he often said, “The tape wants to go higher. Don’t stand in front of a moving train. But one day people are going to wake up.”

Well the alarm clock may be ringing.

Adami believes fundamentals don’t support current valuations at these levels. And he’s starting to see ‘tells’ that suggest the market is starting to crack.

Negative signs are manifesting in three areas:

1. Industrials
2. Currency
3. Financials