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