Your chain's a little long. Take out a link and you should be good to go. A little slack in the small/small is not a problem, especially during a race. 
For what it's worth, your short-cage derailleur has a total capacity of 29 teeth. Your setup is (50-34) + (21-11) = (16) + (10) = 26 teeth only, so your short cage derailleur is fine. See page 2, 'Specifications.'
http://techdocs.shimano.com/media/t...RA/RD-4400/5TS0B_EN_v1_m56577569830607031.PDF
For what it's worth, your short-cage derailleur has a total capacity of 29 teeth. Your setup is (50-34) + (21-11) = (16) + (10) = 26 teeth only, so your short cage derailleur is fine. See page 2, 'Specifications.'
http://techdocs.shimano.com/media/t...RA/RD-4400/5TS0B_EN_v1_m56577569830607031.PDF
