S&P500: 8 Overbought and 89 Oversold by RSI7, but 2 Overbought, and Only 1 Oversold by RSI14

Today we have some very interesting indicators on the S&P500.

By RSI7, 8 companies are overbought (defined as RSI7 above 70):

MSFT 92.04
LH 80.97
RX 76.03
CLX 74.40
JAVA 73.21
SO 72.79
TXN 72.07
AMGN 71.34

89 companies are still oversold (RSI7 below 30):

ASH 29.82
CMI 29.66
RL 29.63
ROK 29.63
MS 29.54
BJS 29.52
LEN 29.43
UNH 29.39
NEM 29.36
MAR 29.34
LOW 29.05
CHRW 28.86
DNR 28.84
NBR 28.78
ZMH 28.49
CF 28.33
CINF 28.16
NWL 28.09
DNB 28.06
RRD 28.03
THC 28.03
EMN 27.99
JWN 27.84
HON 27.81
PH 27.81
BMS 27.64
SVU 27.47
CBS 27.37
NYT 27.25
AMD 27.21
WFMI 27.06
KFT 26.97
NTRS 26.94
JBL 26.93
CIT 26.92
CAT 26.89
MTB 26.85
COP 26.66
HUM 26.48
ADP 26.46
CBE 26.30
TMK 26.24
TXT 26.03
TAP 26.01
PRU 25.70
MTW 25.49
KR 25.43
FO 25.41
UNM 25.19
PGR 25.06
PG 24.71
GCI 24.68
DE 24.60
LNC 24.56
HES 24.54
LXK 24.52
CPWR 24.30
DD 24.29
VRSN 24.15
KIM 24.11
QLGC 24.00
AIG 23.91
UPS 23.75
PTV 23.48
AMP 23.42
HIG 23.34
EL 23.30
ERTS 23.24
MO 22.54
AVY 22.45
BDK 22.29
FDX 22.18
MDP 21.85
MAS 21.61
AFL 21.21
ALL 20.92
MI 20.62
BIG 20.59
PFG 20.53
MBI 20.44
TIF 20.29
C 20.05
TSO 19.90
GE 19.72
VLO 18.97
SUN 17.79
WY 17.49
PCL 16.97
SEE 14.07
ABC 8.13

The thresholds of 30 and 70 are of course arbitrary. There are, for example, 249 companies whose RSI7 is below 40.


RSI14:

By RSI14 2 companies are overbought:

MSFT 80.18
FISV 71.22


1 company is oversold:

ABC 14.03


These seemingly contradictory figures reflect the recent extended rally. There had been many days of prices going higher since March. These overbought conditions reflect in the longer timeframe indicators, such as RSI14. In the short term, there have been a few declines, which are reflected in the RSI7 indicator.

Note that MSFT and ABC make boths RSI7 and RSI14 lists, in opposite sides.