$SOX
(SOX) rally for 18 consecutive sessions, the longest streak on record.
SOX 14d RSI is now 85β¦ 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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