The stock market paused in its multi-day ascent on Monday, allowing overbought conditions to moderate somewhat heading toward midweek.
Among the bigger gainers on the session were shares of ^S^, up more than 6% and back up to its 200-day moving average, and ^IGT^. Shares of IGT gained more than 4% on Monday crossing back above their 200-day moving average for the first time since mid-June.
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Shares of retailer Dollar General ^DG^ (below) pulled back by well over 7% in trading on Monday.
The stock’s reversal comes just one day after a sharp move to new short term highs.
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^FDX^ pulled back for a second day on Monday, closing lower by more than 1% and swiftly moving toward oversold territory.
^NVDA^ (below) pulled back by more than 1% ahead of Tuesday’s open.
Shares of NVDA had closed higher for three days in a row, four out of the past five, before Monday’s pullback.
Increasingly overbought conditions below the 200-day moving average have helped bring out sellers in shares of ^BAC^ on Monday.
Soaring to close above its 200-day for the first time since the first half of June was ^RMBS^ (below)
The strength of the move higher in RMBS has put the stock in short term overbought territory.
Down by more than 8% and closing below its 200-day moving average for the first time since mid-September were shares of ^CELG^ in trading on Monday.
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David Penn is Editor in Chief of TradingMarkets.com