Another Indicator Signals 'SELL'

The market [S&P500] remains extremely overbought, depending what indicators one follows. Itz has presented several over the last few weeks, some are short term in nature some are lagging...BUT they all point to a very exteneded market.
Below is an $SPX chart using the Parabolic SAR, which is now giving a short term SELL. The $CPCE 50ema remains very over sold, as is the 200-ema. Although it hasn't reversed trend, the low levels should be noted and heeded. Again as with the energy sector hedge, look at covered calls, buying put options or using Inverse ETF's such as Proshares SDS.
Itz $SPX nearterm upside target is 1,230 as highlighted April 14th post. link