Marc Faber frightened the market with his call that 2013 is looking a lot like 1987. But while the Gloom, Boom & Doom Report publisher has been quite bearish for some time, one top technician now says that the charts back up the unsettling comparison Faber made on Thursday.
(Read more: Marc Faber: Look out! A 1987-style crash is coming)
Carter Worth of Oppenheimer starts out with a simple premise: "Tops have a look and feel over and over and over."
Citing the same warning sign Faber pointed to, Worth said on Friday's "Options Action" that a top tends to come "as breadth starts to wane—and then the trouble ensues." With that in mind, he took to the charts to compare the current market action to the charts leading up to historical tops in the market.
Worth's first comparison is to the two years leading up to May 2011, when the market dropped on the S&P downgrade of the U.S. credit rating.