S&P 500 Extends Winning Streak; Semiconductor Index Hits Overbought Levels

2026-05-10 11:25

The S&P 500 index has achieved a six-week winning streak, its longest since 2024, according to Barchart data. Meanwhile, the SOX Semiconductor Index's RSI(14) has surged to 85.54, the highest since the 2000 dot-com bubble, indicating potential overbought conditions. Despite these concerns, analysts suggest that the current rally in semiconductor stocks is driven by genuine demand from AI, data centers, and corporate cash flows, distinguishing it from the speculative surge of the early 2000s.

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