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 5/22/12.
The 10-day moving average of this indicator is 35% and the one-day reading is 30%. This indicator reached a recent low of 15% on 5/18/12. Dips in this indicator have often provided good opportunities to add to relative strength strategies.
