The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( ETF Expert) -- There are a variety of ways to interpret stock market volatility. A rising CBOE Volatility Index (VIX) often typifies greater fear on the part of options investors such that they require protection against a monstrous selloff. A widening of the daily trading range on a popular benchmark may also be indicative of explosive moves to the downside or upside. Moreover, upward revisions to the average beta (think financials) can signal increasing risks to the broader markets as well. Relative strength is a lot like volatility in that there are different approaches for evaluating and discussing momentum. Some technicians use the Relative Strength Index (RSI) for looking at potentially overbought or oversold investments. An asset with an RSI above 70 may be viewed as "overbought" whereas one with a RSI below 30 is typically viewed as "oversold."