All Fidelity sector funds gained today, with the exception of the Fidelity Select Gold fund. The top gainer was the Fidelity Select Automotive (FSAVX, up +2.88% today) fund.
However, the sector fund with the most bullish momentum is the Fidelity Select Retailing (FSRPX, up 1.03% today) fund. FSRPX moved above its 100-day moving average today, although only with a narrow margin. We’ll be tracking this fund closely to see if retailers can provide leadership for the market.
Today’s losers were bond funds and gold. We’d like to see the current rally in stocks extend beyond the weekend before we can evaluate the potential of a change in the market trend.
Mutual fund screens are provided by FidelitySignal.com