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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 5/11/10.

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.