Only 39 stocks in the S&P 500 are trading below their 50-day moving averages. That means nearly 93% of stocks in the index are trading abover their 50-days, which is the highest reading in at least three years. Below we highlight the stocks in the index that are the most overbought and oversold versus their 50-days. As shown, AIG is the furthest above its 50-day at 61.06%, followed by GCI, EK, HIG, LEN, and C. These are names that have been in perpetual trouble over the last few years, so clearly investors are going out and buying up beaten down, risky names. Other notable stocks on the most overbought list include COF, WYNN, WFMI, and BAC.
PCS and Sprint are the two most oversold stocks in the S&P 500. Notable names on the list of stocks trading below their 50-days include ICE, CME, YHOO, NEM, SHLD, AZO, and LLY.
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