S&P 500 - short
buy AMEX:VXX (iPath S&P 500 VIX ST ) in anticipation of S&P to decrease to 2100-2090 level in the next one to two weeks or
sell short CME_MINI:ES1! ( S&P e-mini ) with the target 2091-2085.
As usual, watch your risk and follow capital guidelines.
Seems to me investment managers have pushed their clients (equity accounts) to be nearly fully allocated to stocks.
Hope this makes sense.