If you examine charts of the S&P or Dow, versus a short moving average or an envelope channel, things sure look overbought from a short term perspective. Even last year's rally from the October low "regressed to the mean" a few days after the biggest climbs. So I suspect the "war rally" is more than priced in. After all, 10% in six days is a pretty good move. I think we'll see DOW 8050 or S&P 860 (intraday) sometime soon.