At present the market is either in a distribution or a consolidation phase.

If it is distribution it will soon break lower.

If it is consolidation it will eventually break higher.

I am currently moderately short but will be letting the market tell me where it wants to go. Just because I think it is already overpriced does not mean it can't get more overpriced.

As jessie Livermore said
Markets can remain irrational longer than you can remain solvent