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High RS Diffusion Index

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 6/14/11.

This index has pulled back sharply over the past couple of months.  The 10-day moving average of this indicator is 40% and the one-day reading is 41%.    Dips in this index have often provided good opportunities to add money to relative strength strategies.