My Canon Powershot SX40 stops recording regularly and predictably. I have a Canon Powershot SX40 HS and am having problems with recording.

I start to record and it only lets me for a short period of time.  Then it stops recording by itself. 

It seems to stop every time at 1:44 into the recording. Another weird thing is that during the short time it is recording, these little squares appear in a row on the right side of the screen, and one by one the squares turn to a dark color, and then the last square turns to red and right when it does is when the recording stops.

It is a very strange situation, and I've reset the settings on the camera but it still didn't stop. HELP! And thank you!
The squares in a row on the right represent the buffer memory of your camera.
When you are recording video the data goes roughly as follows:

Sensor -&gt; Buffer memory -&gt; Memory card  

When the last square turns red it means the buffer is full. This is caused by the fact that the buffer memory could not move it's contents to the memory card fast enough. A faster memory card would allow the buffer to load it's contents in time and you shouldn't see the red square anymore.

Baseline is: get a faster memory card.