S&P 500 weekly gains for six consecutive weeks, semiconductor stocks' overbought index reaching internet bubble peak

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Mars Finance News, May 10 — 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 index RSI(14) has reached 85.54, the highest level since the peak of the internet bubble in 2000, warning the market of overbought conditions in the semiconductor sector. However, some analysts point out that the current strong rise 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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