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 6/27/11.
This index has pulled back sharply over the past couple of months. The 10-day moving average of this indicator is 41% and the one-day reading is 45%. Dips in this index have often provided good opportunities to add money to relative strength strategies.
Posted by JP Lee 
