The fact that there have been three separate five-week rallies of at least 20% sounds pretty remarkable. In the post-COVID environment, though, they’ve been somewhat common, with eight other occurrences (besides the current one) since April 2020.That’s more than the seven total occurrences from 2003 through 2019, but from the SOX’s inception through the end of 2002, when semis were a much less ‘mature’ sector, there were a total of 20 different periods when the SOX rallied at least 20% in five weeks. As shown in the chart below, in many of those periods, the magnitude of the gain was much larger than 20%.
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