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and it flashed a market top for the 2nd time in the last few months:

Thu 02/14/13
Wed 02/13/13

Tue 02/21/12
Fri 02/17/12

All other signals I follow indicate a bullish market.

Previously it had signaled also on 01/10/12 and continued signalling on/off till 03/19/12.

As you noted, this indicator is prone to throw false-positives during a strong bull run. Zee alluded to this in some of his comments about the indicator and mentioned that he looks at these signals within the context of what the other indicators are indicating...
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