Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

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 6/22/10.

This indicator is snapping back after having reached very oversold levels.  The 10-day moving average has now risen to 42% after having reached a low of 21% on 6/1.  Dips in this indicator have often provided good opportunities to add to relative strength strategies.