S&P 500 Tech Index RSI Flashes Overbought Signal at 82, Marking Only 10th Occurrence Since 1990

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According to BTIG chief market technician Jonathan Krinsky, S&P 500 Information Technology Index's relative strength index (RSI) surged to 82 this week, breaching the overbought threshold of 80 and reaching 28% above its 200-day moving average. This extreme reading has occurred only 10 times since 1990, with the most recent instances in June 2024, August 2020, and December 1999. Historically, the index experienced significant pullbacks or consolidation over the subsequent 40 trading days in most of these cases.
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