Of all the stocks trading above $5/share in the Russell 1,000, 24% are trading above their 50-day moving averages. Below we highlight the ones trading the furthest above their 50-days. There are always stocks that exhibit relative strength even in bear markets, and the names below have been strong lately. As shown, Big Lots (NYSE:BIG) is trading the furthest above its 50-day at 35%, followed by Freeport-McMoRan Copper and Gold (NYSE:FCX), Rohm and Haas (ROH), Carmax (NYSE:KMX), Leap Wireless (LEAP), and Morgan Stanley (NYSE:MS). Other notables on the list of overbought names include CF Industries (NYSE:CF), Whole Foods (WFMI), Nordstrom (NYSE:JWN), Amazon.com (NASDAQ:AMZN), and Goldman Sachs (NYSE:GS).
Below we highlight long-term charts showing the % difference between the price and 50-day moving average of Big Lots (BIG) and Freeport-McMoRan (FCX) -- the two most overbought stocks in the Russell 1,000. As shown, the 50-day spreads for both stocks are at the very top end of their historical ranges.