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The Russell 1,000 is currently 2.65% above its 50-day moving average, and the average stock in the index is 2.75% above its 50-day. There are plenty of stocks that are trading well above their 50-days, however, and below we provide a list of the stocks trading the farthest above them.

Southern Union Company (NYSE:SUG) is the stock that is the farthest above its 50-DMA in the Russell 1,000, and it's also the only stock that is more than 30% above its 50-day (34.22%). Level 3 Communications (NYSE:LVLT) ranks second at +28.12%, followed by HollyFrontier (NYSE:HFC), Greem Mountain Coffee (NASDAQ:GMCR), Pharmasset (VRUS), Ulta Salon (NASDAQ:ULTA), and Temple-Inland (NYSE:TIN). Other notables on the list of the most overbought stocks include ITT Educational (NYSE:ESI), Netflix (NASDAQ:NFLX), Under Armour (NYSE:UA), Chipotle (NYSE:CMG), Visa (NYSE:V), MasterCard (NYSE:MA), Tiffany (NYSE:TIF) and Coach (NYSE:COH).

If you're a momentum trader who expects the market to continue higher from here, these stocks sure have the wind at their backs at the moment. If you're expecting a pullback from overbought levels, these stocks have the farthest to fall just to get back to neutral territory.

(Click chart to expand)

Source: Most Overbought Stocks in the Russell 1,000