The chart below measures the percentage of high relative strength stocks that are trading above their 50-day moving average (universe of mid and large cap stocks.) As of 6/22/10.
This indicator is snapping back after having reached very oversold levels. The 10-day moving average has now risen to 42% after having reached a low of 21% on 6/1. Dips in this indicator have often provided good opportunities to add to relative strength strategies.
