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An Update on the Top 10 Most Overbought Names Within the S&P 500


Sprint, Whirlpool, and Home Depot are first on the list.

MINYANVILLE ORIGINAL My firm has updated its list of the top 10 most overbought names within the S&P 500 (INDEXSP:.INX). The most overbought name in the S&P 500 is Sprint (NYSE:S), followed by Whirlpool (NYSE:WHR) and Home Depot (NYSE:HD). Another notable name on the list is Visa (NYSE:V), which is only approaching overbought.

We do not use the widely followed RSI (Relative Strength Index) for overbought and oversold measures since this index can provide too many false signals. Instead, we use our own proprietary countertrend. Just because these names are overbought, however, this is not an endorsement by any means to short them.

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No positions in stocks mentioned.
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