I believe the market has another 50+ points to go before a top is put in. However, in the meantime, it may take a little time to consolidate it recent gains. My best guess is that it will take another two weeks to put in the top.
IMO, could begin phasing into shorts now and be fine, especially if buying puts with a couple months or so til exp. if trying to nail the bullseye I agree with you that a little more of this rally still to go. I am still watching but getting close to pulling trigger.
Why are you so sure that a top must be put in the next 2 weeks? S&P will not top out as long as RUT is making new all time highs on a daily basis. Small caps tend to lead the markets before major tops and will top out much before the broader market.