S&P 500 Weekly Gains for Sixth Straight Week, Semiconductor Stocks Overbought Index Reaches Dot-Com Bubble Peak

BlockBeats News, May 10th, according to Barchart data, the S&P 500 Index has now risen for 6 consecutive weeks, marking its longest winning streak since 2024.

On the other hand, the SOX Semiconductor Index's weekly chart shows that the overbought RSI(14) has reached 85.54, the highest level since the peak of the 2000 Internet bubble, raising concerns in the market about the overbought condition of the semiconductor sector.

However, some analysts pointed out that the current strong rise in semiconductor stocks is different from the Internet bubble era, as this upward trend is supported by real demand in AI, data centers, and corporate cash flow, rather than pure speculation.