Trading Range Screen for the 30 Largest US Stocks (Bespoke)

by Bespoke Investment Group

The S&P 500 has now bounced 3.05% from its April closing low on the 10th.  The index now needs to gain 1.48% to take out its bull market closing high of 1,419.04.  Below is an update of our trading range screen for the 30 largest stocks in the S&P 500.  The dots indicate where the stock is currently trading, while the end of the tail shows where the stock was trading one week ago.  A green dot means the stock has moved higher within its trading range over the last week, while a red dot means the stock has moved lower.

For each stock, the neutral (N) zone represents between one standard deviation above and below its 50-day moving average.  The light red shading represents between one and two standard deviations above the 50-day, and vice versa for the light green shading.  The dark red shading represents between two and three standard deviations above the 50-day, and vice versa for the dark green shading.  Moves into the red shading are considered overbought, while moves into the green shading are considered oversold.

Just 5 of the stocks shown have moved lower within their trading ranges over the last week, while 25 have moved higher.  Johnson & Johnson (JNJ), AT&T (T) and Verizon (VZ) have had the biggest moves higher since last Thursday's close.

At the moment, 8 of the 30 largest S&P 500 stocks are in overbought territory, while 4 are oversold.  Four stocks are in extreme overbought territory -- AT&T (T), Pfizer (PFE), Coca-Cola (KO) and Verizon (VZ).  The 4 oversold stocks are Wal-Mart (WMT) -- which was overbought last week, Cisco (CSCO), McDonald's (MCD) and ConocoPhillips (COP).

Looking at year to date performance, the biggest stock in the S&P 500 (and in the world) -- Apple (AAPL) -- is up the most out of all the stocks listed with a gain of 50.54%.  Bank of America (BAC) ranks a close second with a YTD gain of 49.19%, followed by JP Morgan (JPM), Citigroup (C), Microsoft (MSFT) and Wells Fargo (WFC).  Google (GOOG) has been the biggest loser out of the 30 biggest stocks so far this year with a decline of 4.44%.  McDonald's (MCD) -- which was one of the best performing stocks in 2011 -- is down the second most at -4.43%.

Interested in running your portfolio through the Bespoke Trading Range Screen?  Become a Bespoke Premium Plus member today.