This is usually a sell signal. I do not want buy SPY put protection just yet, but I have been trimming with this move up or selling calls on others.
I am tempted to buy protection sooner rather than later.
Also, a note on AAPL. This is the first time I ever noticed such a uniform acceptance to AAPL's newest unknown product (iSlate or their tablet). Everyone and their mother is starting to price in this new device already, and I fear a 'sell the news' type of situation when it is finally released. (And I think that will be a buying opportunity.) But if your in AAPL, just be mindful of this situation.
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