Short-term investor sentiment is now excessively optimistic which is short-term bearish for stocks. The S&P 500 index sits today at 2090. The next important resistance sits at 2100. There is significant resistance at the prior high near 2133.
Having broken above important technical resistance (dotted red line in chart that follows) a pull-back test of that breakout makes sense. Look for a correction to the 2040 area.