$SOX
(SOX) rally for 18 consecutive sessions, the longest streak on record.
SOX 14d RSI is now 85… Only three other times in history has it been higher.
77% of constituents are now overbought, the second highest reading in the last 20 years. Only five other times have we seen 70% or higher.
After similar readings, short term returns were soggy which proved to be an incredible buying opportunity in every instance.
6m returns average 19% ( 11% to 37%)
12m returns average 33% ( 25% to 42%)
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