Data through: Nov 6, 2026 · updated Nov 6 · Updates: Daily, after market close
WThe three bars show the last 3 weeks for this indicator, oldest left to newest right. Bar height reflects each reading relative to the other two — the tallest is the highest of the three, the shortest the lowest.
Historical context: Currently in the 8th percentile — near historically low/favorable levels.
What this means right now: The S&P 500 RSI is between 30 and 40 — the market is recovering from a weak period. A year after days like these since 1928 the market was higher about two times in three (66%), a little less often than after any day (70%).
S&P 500 RSI · Daily · 1928–2026
NBER recessions
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Monthly values
S&P 500 RSI — the last 12 months
Every month's reading, with the band the heatmap gives it. The chart above shows the same series in full.
Month
Value
Band
Nov 2026
RSI: 35.1 (Low)
Healthy reading
Oct 2026
RSI: 40.1 (Neutral)
Within normal range
Sep 2026
RSI: 48.1 (Neutral)
Within normal range
Aug 2026
RSI: 53.5 (Neutral)
Within normal range
Jul 2026
RSI: 52.8 (Neutral)
Within normal range
Jun 2026
RSI: 56.0 (Neutral)
Within normal range
Month-end readings of the same series as the chart. Values are the current record, not point-in-time: a month that has since been revised shows its revised value.
What is the S&P 500 RSI?
The Relative Strength Index (RSI) measures how fast and how far the S&P 500 has moved over the past few weeks. It runs from 0 to 100. At 70 or above the market is called overbought — it has risen unusually fast. Below 30 it is called oversold — it has fallen unusually fast. The standard setting, used here, looks back 14 trading days.
The 200-day moving average is the average of the past 200 closes: above it the S&P 500's long-term trend is up, below it the trend has turned down. Together, the RSI and the 200-day average give a momentum reading and a trend reading — two lenses on the same market.
How We Color-Code the S&P 500 RSI
Our heatmap colors this indicator against historically significant thresholds:
Below 30.0
Oversold — the S&P 500 was higher a year later after 70% of these days since 1928, the same share as after any day
30.0 – 40.0
Recovering — momentum building from low levels
40.0 – 60.0
Neutral momentum — neither overbought nor oversold
60.0 – 70.0
Elevated — the market has risen fast, but not to an extreme
70.0 or above
Overbought — a 5% fall within three months followed 28% of these days since 1928, less often than after any day (36%)
Historical Extremes — What Happened Next?
When this indicator reaches extreme levels, history shows consistent patterns:
Mar 2020COVID Crash
RSI: 25.5 (Oversold)
The lowest RSI close of March 2020, on 12 March. The S&P 500 returned +59.0% over the next 12 months. The market's own low came 11 days later, on 23 March. The crash's lowest RSI close had come earlier: 19.2, on 28 February.
Jan 2018Late Cycle Peak
RSI: 86.7 (Extreme Overbought)
The S&P 500 fell 10.2% in nine trading days in the "Volmageddon" sell-off. A fall of 10% or more within three months is unusual after an overbought reading: it has followed fewer than 1 in 10 (9 of the 110 overbought episodes since 1928).
Dec 2018Fed Tightening Panic
RSI: 19.2 (Oversold)
The S&P 500 returned +37.1% over the next 12 months, as the Fed switched from raising rates to cutting them.
Frequently Asked Questions
What does it mean when the S&P 500 RSI is 70 or above?
An RSI of 70 or above means the market is "overbought" — it has risen faster than usual over the past 14 days. It does not mean a fall is due. Since 1928 a 5% fall within three months followed 28% of these days, against 36% of all days. The market can stay overbought for weeks: the longest period at or above 70 lasted 32 trading days, from November 1952 to January 1953.
What has followed an RSI below 30?
A year much like any other. The RSI has closed below 30 on 902 days since 1928. Of those with a full year since, the S&P 500 was higher 12 months later after 70%, with a typical (median) gain of +10.7%. After any day the figures are almost the same: higher 70% of the time, a median gain of +9.6%. Prices usually fell further first. Of the 110 separate dips below 30, the market closed lower again within the next three months after 98 — nearly all of them. An RSI below 30 says how fast the market has fallen, not what comes next.
What is the 200-day moving average and why does it matter?
The 200-day moving average is the average closing price of the S&P 500 over the past 200 trading days. Above it, the long-term trend is up; below it, the trend has turned down. The market has spent most of its time above the line — about two days in three since 1928 (68%). The line has made only a small difference to the year ahead. A year after a day above it the market was higher 72% of the time; after a day below it, 64%.
Can RSI predict market crashes?
No. The RSI describes how fast the market has moved over the past 14 days; it does not time crashes. The 2008 crash took it to 23.0, on 10 October 2008. The 2020 crash took it to 19.2, on 28 February 2020. Both were low but not the lowest: the RSI has closed below 20 on 79 days since 1928, the lowest being 11.1 in September 1946. Nor does an overbought reading warn of a crash. Of the 110 times the RSI has reached 70 since 1928, a fall of 10% or more followed within three months after only 9.
How is the 14-day RSI calculated?
RSI = 100 − (100 / (1 + RS)), where RS is the average gain divided by the average loss. The site uses Wilder's 14-day averages: each day's average is 13/14 of the previous day's plus 1/14 of the new day's gain or loss. A period with mostly up days produces a high RS and a high RSI. A period with mostly down days produces a low RS and a low RSI.