Dual Time Frame Price Channel Throw Over in SPY - Topping Probably 1-18-18

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The top chart here shows SPY on a 60 min log chart going back to August 2017.  I have connected a couple key highs in the run up since then, and currently price is hanging out above the upper boundary of the channel on this time frame.  The next chart will show this with a higher time frame also.

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This chart is a daily log scale chart on SPY going back to the 2016 low in January after the 2015-2016 correction.  I have drawn some channel lines on this time frame we can see that SPY is also hanging out above the upper boundary line of the channel for the last week or so.

So we have a dual time frame move up above the upper channel line coupled with extremely one sided bullish sentiment on the market.  I have showed some similar events in past markets, and in my estimation this is significant and could be a point where prices peak and begin a multi month consolidation.

Currently the market is showing some unique signals in real money sentiment.  

For instance, today was the 3rd close in a row above the upper daily bollinger band on the VIX which typically would show a cluster like that at the bottom of a correction, or early in the phase of a sell off.  But yesterday prices on SPY closed above the upper bollinger bands and at a 52 week high.

I can't find any instances of a similar occurrence in the past 23 years.

Also when the VIX is stretched to the upside, usually the put/call ratio is rising also, both of which indicate rising fear or pessimism.  But currently, the put/call ratios have been at extreme opposite conditions both short term and on a multi year basis.  So the pairing of relatively elevated VIX and relatively extreme low put/call ratios is at a discrepancy I also can't find a comparable scenario to for the last 23 years by a few different measures.

Price is the final result of all other market info, and so the multi time frame extreme throw over of the upper price channel of the rise for the last 2 years seems to me to be the final say of significance.

Markets can run up or down for extended periods, and so when staying with the trend this is where a methodical trailing stop adjustment scheme is so key to stay with the trend.