Below is an updated look at our trading range screen for the 30 members of the Dow Jones Industrial Average. Â A description of how to read the trading range charts is included at the bottom of the screen.
While the Dow as a whole has been relatively flat over the past week, our screen clearly shows that upside momentum has stalled for the time being. Â Last week at this time there was just one oversold Dow stock (VZ), but now there are five (BA, HPQ, INTC, KO, VZ). Â Thirteen Dow stocks were overbought last week at this time, while just nine are overbought now. Â United Tech (UTX), Cisco (CSCO), Home Depot (HD) and Kraft Foods (KFT) are the most overbought of the bunch.
Looking at year-to-date performance, Bank of America (BAC) remains in the lead with a YTD gain of 44.60%. Â Home Depot (HD) ranks second with a gain of 34.78%, while Disney (DIS) ranks third at 32.91%. Â American Express (AXP), AT&T (T) and Wal-Mart (WMT) are the only other Dow stocks that are up more than 20% year to date.
There are five Dow stocks that are down year to date -- Alcoa (AA), Boeing (BA), Caterpillar (CAT), Hewlett-Packard (HPQ) and McDonald's (MCD). Â HPQ is down by far the most with a decline of 34.63%. Â Will Hewlett be the next stock to be dropped from the Dow?
Copyright Š Bespoke Investment Group
