We have seen multiple stock sectors breaking out to 52-week highs in early December of 2012 in spite of growing concerns about the resolution of the fiscal cliff negotiations in Washington (see December 1, 2012 blog).
Yesterday, the Congress and the President reached a last-minute deal on tax hikes resulting in an across the board rally for stocks. However, after a multi week run, many sectors are now overbought and ripe for a correction.
Here are a few examples of Fidelity U.S. stock sector and international funds that have performed great in the last two months of 2012, but are now vulnerable for a pull back:
Buy/sell signals are available at FidelitySignal.com.