The S&P pulled it's dump right back out in Nov 2014 with a 250 point straight run. Its 14 pt RSI tickled 75 back then - as it is now. It is worth noting that after a couple days' pullback the market went a little higher before giving back a VERY QUICK 100 points. The dates are earily similar - as are the charts.
What's very different is the climate, today, but the IMX (TD Ameritrades sentiment by client positions) also reached a high 1 reading ago before dipping a little.
I am more short than long w S&P right now - so I speak w bias - but it's all worth noting , I think.