CME, Intercontinental Exchange Turn Most Oversold With 24.4 RSI as S&P 500 Drops Nearly 2%
Updated
Updated · CNBC · Jun 27
CME, Intercontinental Exchange Turn Most Oversold With 24.4 RSI as S&P 500 Drops Nearly 2%
2 articles · Updated · CNBC · Jun 27
Summary
CME Group and Intercontinental Exchange landed among the market’s most oversold stocks, each posting a 14-day RSI of 24.4 after weekly declines of 10% and more than 7%, respectively.
The selloff hit exchange operators as investors weighed the threat from bitcoin perpetual futures, a no-expiration product that could compete with traditional futures offerings; CME sued the CFTC just over a week ago over Kalshi’s approval.
The broader backdrop was a volatile week: the S&P 500 fell nearly 2% and the Nasdaq lost 4.6% as tech—especially semiconductors—sold off, though the Dow still rose 0.6%.
Other oversold names included Albemarle and Akamai, both with RSI readings below 24, while defensive and travel shares moved the other way.
Cardinal Health topped the overbought list with an 84.4 RSI after rising more than 7% and hitting a $240.44 52-week high, while Delta, United and Southwest also looked stretched as WTI crude fell 3.74% to $69.23.