NOT ... the FEIE is added back to the income for the cap gains calculations ... look at the worksheet on page 16 ... line 1     https://www.irs.gov/pub/irs-dft/i1040sd--dft.pdf

If you are using the downloaded program switch to the FORMS mode to see the calculations.  If you are using the ONLINE version you will need to pay for the program to see the worksheets in the Print Center.