A classic rally from February lows to fresh record highs. It is natural to search for signs of exhaustion here. But as of now there is little reason to think that there could be a major correction.
The RSI has breached rising trend line… but is still well short of overbought territory, while the MACD is losing height.
This could be the best time to initiate strategies like Long Straddle or Strangle as volatility could spike from here. Straddle is a long gamma and long vega strategy. Note that it would be ideal to initiate strategy for the next expiry and not the September one.