Sometimes you're looking at your retirement account. You're thinking to yourself, "Self? I'm gonna need this money to live on for, like, 30 years. If I'm gonna make an investment, what are some indicators that could help me make that decision?"
We've all had this chat with ourselves thousands of times, right? Well, maybe not, but either way, sometimes, before you do something that you might regret, like smoking crack, hiring a hooker from Craigslist, saying 'yes' when your buddy says, "Smell my finger," or buying Tesla stock in 2022, you want some help, maybe some kind of INDICATOR that might sway you to say YES if it's a good idea, and NO if it's a bad idea.
Well, there are a hundred indicators that can provide that help when you're talking about investing. Today, we're talking about the Relative Strength Index, or RSI and how it might help you make decisions when you're considering buying a certain stock, mutual fund, ETF or cryptocurrency.
The long, drawn-out explanation, with the eye-crossing equations used to determine a given RSI, can be found here:
Here's that Finviz chart for the Sprott Uranium Miners ETF:
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