S&P 500 Posts Six Consecutive Weekly Gains; Semiconductor Stocks Reach Overbought Levels Not Seen Since Internet Bubble Peak

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On May 10, according to Barchart data, the S&P 500 index has now risen for six consecutive weeks, marking the longest streak since 2024. On the other hand, the SOX semiconductor index weekly chart shows that the overbought index RSI(14) has reached 85.54, the highest level since the peak of the 2000 internet bubble, raising concerns about the semiconductor sector being overbought. However, some analysts point out that the current strong rise in semiconductor stocks is different from the internet bubble era, as this increase is supported by real demand from AI, data centers, and corporate cash flow, rather than mere speculation.

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