How Overbought?

Remember the McClellan Oscillator I've talked about in the past? Here's how it looked as of this morning:

Or, how about the T2108 (% of stocks above 40 day):

Among several others, these two explain my "extreme overbought" comment in the premarket post. Frankly, if the market were simply able to pull back a little (without too much technical damage) and not fall completely apart in these overbought conditions, it would be a positive sign.