Arch Crawford has been around for decades and his observations based on planets,degrees etc along with technical analysis has been reported by Hulbert that tracks these newsletter writers and sites. Can't deny his track record as it is impressive. I like the fact he uses both for timing and strength of price moves. But regarding overbought indicators etc here is a chart from Stockcharts that I also subscribe to along with Qcharts. It does have some interesting features that I like to use and its cheap at only about $25 per month. Qcharts costs me $150 per month. So this is the percentage of stocks above their 50 day moving average with a solid black line. I have overlaid it with the SPX in dashed blue to show the correlation. When the percentage gets above 75 you are in nose bleed territory and should act accordingly as risk is high and a top 'nearby'. There are many more indicators saying the same thing. Also see the VIX as an indicator below the chart below 20 which historically is overbought as well. The bearish overbought list is a long one so the market is looking for a reason to selloff. I'm sure the big boys and the media will accommodate the bears soon enough. See Link botom left of post.