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 8/31/10.
The 10-day moving average of this indicator is 54% and the one-day reading is 57%-roughly the middle of the distribution. 2010 has seen both extremes in this indicator-on 4/16/2010 98% of high relative strength stocks were trading above their 50 day moving average and then only about a month later on 5/20/2010 only 10% of high relative strength stocks were trading above their 50 day moving average.
