S&P 500 weekly chart shows 6 consecutive weeks of gains, with semiconductor stocks' overbought index reaching the peak of the dot-com bubble.

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BlockBeats News, May 10th, according to Barchart data, the S&P 500 index has now risen for six consecutive weeks, the longest streak since 2024.

On the other hand, the weekly chart of the SOX semiconductor index shows that the overbought RSI(14) has reached 85.54, the highest level since the peak of the internet bubble in 2000, warning the market of an overbought condition in the semiconductor sector.

However, some analysts point out that the current strong rally in semiconductor stocks is different from the internet bubble era. This rally is supported by real demand and corporate cash flow in AI, data centers, and other sectors, rather than pure speculation.

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