Well there is no doubt that this is a time to be cautious, but there is a big difference in being cautiously optimistic and the "sky is falling scenario" we've been hearing for the last two weeks.
People definitely see what they want to see. When the market is rising it ALWAYS looks like a double top until the market exceeds the last top. Sometimes it takes two or three shots at the top to push through it.
I've got all kinds of negative divergences so some kind of correction is probably coming, but that is what stops, trade triggers, or contingent orders are for.