“If something can't go on forever, it won't”
Extremely extreme
A lot of extreme readings; semis up 50% in 25 trading days, now >50% above 200 DMA and the one-year performance is a 4-sigma event. The fundamentalists will say that it is supported by earnings and the best sector macro in a lifetime. Maybe this time is different. Or perhaps much more likely - this is exactly what “the end phase” always looks like. You never short a higher high, but God help us, it is tempting.