The Stock Market is Climbing the Wall of Worry, Part 2: Has the 2013 Bull Market Started Already?

I observed in the December 1 blog entry that while investors are worried about the resolution of the fiscal cliff negotiations in Washington, multiple U.S. equity sectors and international investments are making new 52-week highs.

This trend has continued in the last two weeks and it certainly feels like we are already in the middle of a strong bull market for stocks. With only 9 trading days left this year, the bullish momentum can carry over to the beginning of 2013, unless negative news from Washington trigger a year-end tax sell off.

Here is a sampling of Fidelity’s U.S. stock sector funds recently reaching 52-week highs:

Fidelity Select Air Transportation Fund (FSAIX, last change: 1.38%)

Fidelity Select Air Transportation Fund (FSAIX, last change: 1.38%)

Fidelity Select Chemicals Fund (FSCHX, last change: 1.14%)

Fidelity Select Chemicals Fund (FSCHX, last change: 1.14%)

Fidelity Select Multimedia Fund (FBMPX, last change: 1.27%)

Fidelity Select Multimedia Fund (FBMPX, last change: 1.27%)

Fidelity Select Brokerage and Investment Fund (FSLBX, last change: 1.03%)

Fidelity Select Brokerage and Investment Fund (FSLBX, last change: 1.03%)

Fidelity Select Defense and Aerospace Fund (FSDAX, last change: 1.83%)

Fidelity Select Defense and Aerospace Fund (FSDAX, last change: 1.83%)

Fidelity Select Financial Services Fund (FIDSX, last change: 0.94%)

Fidelity Select Financial Services Fund (FIDSX, last change: 0.94%)

Fidelity Select Industrials Fund (FCYIX, last change: 1.33%)

Fidelity Select Industrials Fund (FCYIX, last change: 1.33%)

Buy/sell signals are available at FidelitySignal.com

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