What Can Possibly Go Wrong?

Record low VIX, record high Stock indexes, blowout Facebook (FB) earnings with Amazon (AMZN) on deck (already up another 20 points as of this writing), what can possibly go wrong?

We are now entering the weakest period of the year with record low volatility, record high stock prices and a year long period where we have yet to modestly correct. Caution must be warranted.

Regardless of what Amazon does (1100 a share or back to 1000?), with the Nasdaq 100 on the cusp of 6000, I believe it's gone about as far as it can for now. Debt Ceiling, China, North Korea, Russia, Trump... something can and most likely will begin to derail this thing soon.

As far as technicals go, a mega-phone top could be developing, which will take us not only to the bottom of the mega-phone, but likely much much lower.