Stock Market -- Short Term Technical

My 25 day oscillator broke a downtrend on 9/8, signaling another
run-up was in prospect. This oscillator now has the market at a
moderate overbought level at 1068 on the SP 500. To be precise,
the market stands 4.7% above the 25 day m/a. Over the course of
the advance since 3/09, heavier overboughts have been recorded
at 7 - 10% above the 25 m/a. Historically, however, a reading of
near 5% above the 25 day m/a has often been strong enough to
attract profit takers, so if you're a short term player, you need to
pay attention.

I have linked to the SP 500 chart below. Note that momentum is
overbought and that the 40 day RSI is near 63%. That is a high
reading for this measure.

SP 500 chart is here.