This is not a trade idea, just an interesting observation. This spread chart is essentially the difference between the S&P 500
and the Russell 2000 (SPY-IWM). The last time it was at this level, it was before the crash in 08 (additionally, it was very high before the dot-com crash). Not saying this is the market's destiny, but it might confirm the thesis of a correction.
I'm still bullish
about this market over the short-term however and I'm especially bullish
But let's be aware of this pattern.