Seeking Alpha
Registered investment advisor, macro, ETF investing
Profile| Send Message|
( followers)  

Thursday's continuation of the rally has left the S&P 500 and all 10 sectors in overbought territory. You can see the across-the-board overbought levels in our trading range screen below. Financials and Technology -- the two largest sectors of the market -- are the most overbought.

All but six of the 30 Dow stocks are trading in overbought territory as well. Boeing (NYSE:BA) is currently the most overbought Dow stock, followed closely by IBM (NYSE:IBM), DuPont (NYSE:DD), and Hewlett-Packard (NYSE:HPQ). The two Dow stocks that have managed to trade into oversold territory during this gravity-defying run-up are Alcoa (NYSE:AA) and Caterpillar (NYSE:CAT). These are the only two Dow stocks that are down year to date as well.

(click to enlarge)

Source: All 10 Sectors Overbought