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 3/5/2012:
RS leaders and laggards continue to duke it out without a decisive winner (over the past couple of years). It's always easier to make progress in the performance vs. a benchmark game when the wind is at your back. We haven't had that for a while, so we just might be about due.