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 6/29/10.
The 10-day moving average of this indicator is 39% and the one-day reading has fallen to the extremely oversold level of 14%. Dips in this indicator have often provided good opportunities to add to relative strength strategies.
Posted by Andy Hyer 
