Citi's Global Bear Market Checklist

As markets grind higher, investors are rushing to determine whether the top is here...and if a crash is near.

Citigroup is not seeing any slowing in the global upward momentum, but is advising clients on Friday to "mind the corrections." The firm's Global Strategy Team put together 15 indicators to help establish previous peaks in markets, and of those 15, 3.5 are indicating 'Sell.'

That's up from last year, leading to the bank's slight downside commentary.

Below is Citi's check list.

In 2000, nearly all signals were red: A screaming "Sell.'

The year 2007 was still powerful, with 11.5 signaling to sell.

This year, meanwhile, is up slightly from a year ago. The first sell signal since 2007 is -- fittingly -- the Net Debt/EBITDA metric in the US Ex. Financials.