Sell signal: utility stocks can no longer lead the market higher

The Fidelity Select Utilities Portfolio fund (FSUTX, change: -1.14%) reached its 52-week high on November 8. It is disappointing to see that one of the leading sectors of the fall rally is breaking to lower price levels. The stock market will need to find leadership soon, otherwise the traditional holiday rally may not happen this year.

As we reported, the Fidelity Select Utilities fund (FSUTX, change: -1.14%) reached its 52-week high on November 8. It is disappointing to see now that one of the leading sectors of the fall rally is breaking to lower price levels. The stock market will need to find leadership soon, otherwise the traditional holiday rally may not happen this year.

 

Technical analysis screens and buy/sell signals are provided by FidelitySignal.com

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