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The benchmark S&P 500 (SP500) topped a new all-time high on Thursday, but the index is also showing signs that it’s overbought, according to the relative strength index technical indicator.
According to the RSI, the S&P 500 is hovering right at the 70 level, which indicates that the index is overbought. Moreover, many constituents within the S&P 500 are showing similar signs, as just over 20% (or 110) of the S&P listed stocks also are flashing overbought warnings when looking at the RSI indicator.
See the top 10 most overbought listed stocks in the S&P 500 according to the relative strength index.
No. 10: Marathon Oil Corporation (MRO): RSI 81.47
No. 9: Diamondback Energy (FANG): RSI 81.68
No. 8: O’Reilly Automotive (ORLY): RSI 82.04
No. 7: Marathon Petroleum Corp (MPC): RSI 82.89
No. 6: Textron (TXT): RSI 83.25
No. 5: Paccar (PCAR): RSI 83.38
No. 4: Chipotle Mexican Grill (CMG): RSI 83.49
No. 3: Targa Resources Corp (TRGP): RSI 84.06
No. 2: Valero Energy Corporation (VLO): RSI 84.42
No. 1: NRG Energy (NRG): RSI 86.99
Year-to-date performance: MRO +12.2%, FANG +26.4%, RSI +22.6%, MPC +34.1%, TXT +19.2%, PCAR +26.9%, CMG +27.5%, TRGP +27.2%, VLO +31.7%, and NRG +29.5%.
For investors looking to further track the S&P 500, here is a group of S&P 500-focused ETFs and mutual funds: (FXAIX), (VFIAX), (VFFSX), (NYSEARCA:SPY), (VOO), (IVV), (SSO), (UPRO), (SH), (SDS) and (SPXU).