Wheres the market going? I have no idea but based on historical data we can see some clear indications that should be alarming to those conservative investors.
Based on technical data if you zoom into 2016 we can see that the Bollinger bands have began to separate indicating an increase in volatility and increase in the probability of a larger price fluctuation in the near future.
Take your profits and wait to see where this is going.
Don't expect to make gains shorting the market on leveraged bets against it through ETF derivatives as these have historically been seen to become unhinged in their correlation to the price of the underlying assets and both the calls and puts lose their value.