But maybe it is just too much. On both timeframes it has become overbought. (See Slow Stoch). It is end of Q1 (I almost mistyped it "end of QE" hehehe), it has to stay high today due to window dressing, but my bet is tomorrow we can see some profit taking.
I don't recommend any new trades here (I am stuck with my May maturity Long Put options anyway), except for those who are long, maybe would be wise to take some chips off the table. Thinking, thinking... hmm, maybe if you like top hunting, buy some Puts today. Going short outright is too early, no sell signal yet.
p.s.: April 9400 Put is ard 61 points now.
p.s.2: Retracement level in case of correction can be 9350-9400.