To be honest I'm still very bullish about SPX500 and holding several individual names; while this trade is kind of "too good to ignore" as 2 of my systems suggest to take a short at this spot.
That is , this could be a good hedge trade to take:
1. if it succeed, good trade! 2. if it failed, probably a new all-time high , and my individual stocks might also go well.
If you aren't holding many stocks, this short trade itself isn't really worth too much risk though!