Insurance is very cheap, people have given up on it; imo youd be a fool not to cover some of your long positions at least through July. I think the Russell and DOW are good candidates if you are significantly invested there. VIX, complacency, earnings, typically poor months of July/Aug, debt ceiling and a mix of other political uncertainties provides a good set up.
Sentiment, job/wage growth, PMI, GDP and the Russell only being up 5% over 2 years provides some slight resistance to a correction.
The Russell 2000 is up 12.15% over two years (4/1/15 - 3/31/17). Google it.