A correction is close

The SPX has already reached its 2011 high and the weekly leg up that started in November is already about 21% long.

Also, the market is close to overbought on the short term, judging by the 3 day moving average of TRIN.

Thus, I think the market will correct after a surge above 1380. This will not be an intermediate term top but rather a pause before a move above 1400. The ES 1330 -1340 area should contain this correction.

Will I short? Yes, small size, only if the market surges above 1380 or higher. The long uptrend up to here will probably not be stopped by a dull market.