The 10-day moving average of this indicator is 64% and the one-day reading is 55%. This indicator is rebounding from a single-day low of 22% on 5/7/10. Dips in this indicator have often provided good opportunities to add money to relative strength strategies.
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 5/11/10.