Should the club be Parallel at the top of your golf swing?

I would like to do what you describe but I have a tendency to overswing through a combo of raising arms after shoulder turn is complete and the left arm bending at elbow, both of which allow the club to come past parallel at top of backswing. I continually try and cure this and can manage ok with a practice swing but can't when a ball is involved it seems! Very frustrating.