GE Overbought!

At it's current price of $39.20, General Electric is up $1.13 on the day and has pushed the S&P 500 up a whopping 1.31 points.  It is by far the largest index mover today, BAC is second and has moved the index 0.31 points.  Today more than half of the S&P 500 stocks are DOWN, but GE's strength has kept the market relatively flat. 

Below we highlight General Electric throughout the current bull market, and how it has moved through its trading envelope.  We noticed that typically after large moves GE trades sideways back into its trading range and in many case will fall below its 50-day moving average before eventually going higher.