Have the markets reached a top? 

Disagreeing with his fellow Trading Strategies roundtable panelist Stephen Guilfoyle on the state of the market in September, David Yoe Williams, a commodities and gold expert, said the market has reached dangerous highs. "The bigger they are, the harder they fall," Yoe Williams said. 

"We're up at these lofty levels, and God bless it; I would be very careful," Williams said. 

Though he said that a fall might not happen in September, Williams said that he expects to see a "significant" decline in the market before December. 

In the current low volatility environment, it's been 19 months since the S&P 500 sold off 10 percent. Williams said that one percent isn't significant and that even 10 percent is barely significant, and it would take a fall of between 15 and twenty percent to be considered notable. 

Should you be prepared for the market to fall with the leaves?

Check out more of our September Trading Strategies special report below:

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