Is The RSI Index Really A Contrarian Indicator Worth Following? – ValueWalk Premium

Is The RSI Index Really A Contrarian Indicator Worth Following?

The S&P 500 is overbought. Even though some Wall Street analysts are arguing that improving fundamentals support higher equity prices, when seen through the eyes of the RSI Index, the S&P 500 is due for a pullback.

The RSI Index or Relative Strength Index is a momentum oscillator, designed to measure the speed and change of price movements. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

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