Below is an updated look at our trading range screen run on the 30 stocks in the Dow Jones Industrial Average. A description of how to read the chart is shown at the bottom of the screen.
Last week at this time, 13 stocks in the Dow were in overbought territory, but as we enter the final day of this trading week, there are 18 Dow stocks that are overbought. No Dow stocks are oversold, and only six are below their 50-day moving averages (CSCO, GE, HPQ, IBM, MCD, and PFE). The most overbought stock in the Dow is 3M (MMM), at more than three standard deviations above its 50-day. MMM rarely gets up to these levels, and it's now up 18% year to date. Other Dow stocks that are very extended right now are Chevron (CVX), DuPont (DD), Disney (DIS), and Home Depot (HD).
Heading into this week, there were still a few Dow stocks that were down on the year. But as of this morning, every single name in the index was up in 2013.