The difference between a possible top and confirmed top

I didn't do a weekly stock scan this week because the market is at a very over extended level. I believe a correction is imminent.

I thought I would do a post about identifying the top of a trend. As you can see here the ASX 200 is forming a potential top but it is still not confirmed yet. The stochastic is down but the other two indicators are not in downtrend. For a confirmed top reversal, I am looking for a close below 5,400 on this chart. I will post more about it if I see it eventuate.

Below: The BHP daily chart here is showing an unusual formation. We had a potential top but it wasn't confirmed. Now we have another potential top and it is not yet confirmed. What I am looking for here is another red candle to follow. The MACD is very much on uptrend but the other two indicators are bearish so we could expect the ext candle to be red. Lets see if we get a confirmed top reversal on this chart.

Below: BLT daily chart has a big gap up and is about 95 RSI which is extremely over extended. When I see charts like this you can be fairly sure the market is due for a significant correction. Again this is a potential top. It is not a confirmed top yet. This is an early warning sign of over exuberance.