The S&P oscillator is back up to around 80 which historically has always proven to be a short term top.  We’ve had a huge move off of the lows and I think it might be time to put on some hedges or take some profits.  No one ever loses money taking profits.  Originally, I thought that this particular oscillator was only relevant in bull markets.  However, looking back at historical data it looks like the oscillator holds up even during a bear market and/or bear-to-bull transition.