Extreme Overbought Levels The recent 50% rally in the semiconductor index (SOX), with an unprecedented 18 consecutive up days, has been a sight to behold, pushing many forecasts and indicators to their limits. As such, on Friday, April 24, the 5- day and 14-day relative strength indicators (RSI5, RSI14) registered at 98.7 and 85.1, respectively. The former has never been this high in the index's history, whereas the latter has been exceeded only twice before: 1995 and 2011. See Figure 1 below. These are sig ...