Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching and what’s on the radar for the next session. Overbought or an opportunity? The relative strength index is one of many metrics traders and investors use to determine whether a stock is oversold or overbought. The thinking is that a reading below 30 shows a stock is oversold, while a result exceeding 70 suggests the name is overbought. Despite Monday’s sell-off, all of the major indexes are above 70 on the RSI scale. It doesn’t mean the slump is guaranteed to continue, but this metric is one of may factors investors and traders watch. The Russell 2000 dropped about 1.6% Monday, and the RSI is at 72. The index rose nearly 4% in the past month. The Dow Industrials dropped almost 1% on Monday. The RSI is 75, and the index is up almost 4% in a month. The Nasdaq Composite and Nasdaq 100 both have an RSI of 72. Both are up more than 4% in a month. The NYSE Composite also has an RSI of 72. It is up 2.5% in a month. The S & P 500 has an RSI of about 75. It is up close to 4% in a month. Jim Cramer on “Mad Money” said Monday: “Even after today’s pullback the market remains very overbought. We are vulnerable if more countries refuse to play ball with President Trump on trade. They are going to get some very similar letters from the White House and Wall Street doesn’t want to see that. But you know what, the last time the stock market got this overbought, we had a similar sell-off like this … then later we were up 3%, so if you sold at these overbought levels you missed a big move.” .DJI 1M mountain The Dow Industrials in the past month The Big Short’s longs “Big Short” investor Steve Eisman was on ” Fast Money ” Monday night. He said that the “AI trade is still in its infancy.” He likes Nvidia and the stocks that power artificial intelligence, which have had major runs in the last few months. He didn’t mention names. However, stocks in that space include Constellation Energy , NextEra , Talen , Vistra and NRG . Constellation Energy, which is up 77% in three months, is off 9.6% from the January high. Vistra is up 88% in three months. Shares are down 3% from the January high. NRG is up around 82% in three months. The stock is off 6% from the high hit almost two weeks ago. NextEra is up roughly 15% in three months. It’s off 13% from the October high. Talen Energy is up 56% in three months. It’s 5.5% from the high hit last week. Shares of Nvidia hit a new high last week. The stock is now 1.7% below that level. Nvidia is up 62% in three months. The biotech breakout Jared Holz of Mizuho Securities was also on “Fast Money” Monday night with Melissa Lee. Holz wasn’t so bullish previously, but he has turned in that direction. He said Monday night: “It is time for a move higher.” He likes the big ones like Gilead , BioMarin and Amgen . Gilead is up nearly 6% in three months, and the stock is 7% from the March high. BioMarin is down about 3% in three months. Shares are off 40% from the August high. Amgen is up 1% in three months. The stock is 16% from the high reached last July. The SPDR S & P Biotech ETF (XBI) is 21% from the November high. The fund is up around 15% in three months. The iShares Biotechnology ETF (IBB) is up 10% in three months. It’s down 15% from the September high. IBB 3M mountain The iShares Biotechnology ETF (IBB) over the past three months Boeing June orders and deliveries CNBC airline reporter Phil LeBeau will have the numbers at 11 a.m. ET on Tuesday. The stock is up 57% in three months. In the last month, Boeing is up 3.7%. The stock is within shouting distance of its 52-week high of $218.80, which it reached in June. Retail details Amazon Prime Day starts on Tuesday. The stock is up 27.5% in three months. Shares of the e-commerce giant are up 4.6% in a month and off 8% from the February high. Target ‘s Circle Week continues Tuesday. The stock is up 7.6% in three months. It’s up 4.4% in one month and is down 39% from the August 2024 high. Walmart Deals is set to start. The stock is up 18.5% in three months and up around 2% in one month. Shares are down 6% from the 52-week high. The SPDR S & P Retail ETF (XRT) is up 24% in three months and up 2% in one month. It’s off 6% from the November high.
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