The chart below is the spread between the relative strength leaders and relative strength laggards (universe of mid and large cap stocks). When the chart is rising, relative strength leaders are performing better than relative strength laggards. As of 10/25/2010:The RS Spread has remained relatively flat over the last year as a result of RS leaders and laggards generating similar performance. This transitional period was preceded by a sharply declining spread during the initial months of the new bull market–a time in which there were major changes in leadership. Stay tuned for what I expect will be a rising spread in the coming years.