Semiconductor stocks did something not seen since the dotcom bubble burst. What the charts show

As if the recovery in the Nasdaq from the March 30 low wasn't shocking enough, take a look at how the VanEck Semiconductor ETF (SMH) did relative to the benchmark index. The SMH/ QQQ weekly ratio chart broke out to a 26-year high. It's an all-time high going back to May 2000, just two months following the March 2000 tech bubble high. Let this sink in for a moment. The last time the semiconductors outperformed the Nasdaq-100 to the degree we're seeing right now was in the dotcom bubble. …