Today's continuation of the rally has left the S&P 500 and all ten sectors in overbought territory. Ā You can see the across-the-board overbought levels in our trading range screen below. Ā Heading into tomorrow, Financials and Technology -- the two largest sectors of the market -- are the most overbought.
All but six of the thirty Dow stocks are trading in overbought territory as well. Ā Boeing (BA) is currently the most overbought Dow stock, followed closely by IBM, Du Pont (DD) and Hewlett-Packard (HPQ). Ā The two Dow stocks that have managed to trade into oversold territory during this gravity-defying run-up are Alcoa (AA) and Caterpillar (CAT). Ā These are the only two Dow stocks that are down year to date as well.
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