The Stock Market is Climbing the Wall of Worry, Part 6: Dow at Record High Again; Market Leading Sectors Are Still Overbought

Fidelity Select Transportation Fund (FSRFX, last change: 0.81%)

The Fidelity Select Transportation Fund (FSRFX, last change: 0.81%) is the top performing Fidelity mutual fund in 2013 with 18.08% gain. FSRFX is way overbought now and a consolidation move or a correction is likely.

Fidelity Japan Smaller Companies Fund (FJSCX, last change: 2.20%)

The Fidelity Japan Smaller Companies Fund (FJSCX, last change: 2.20%) was the largest gainer today. FJSCX is also the best performing international Fidelity fund in 2013. The bullish trend is caused in part by the weak yen and in part by the market’s reaction to the economic policies of the new Japanese government. The almost vertical rise of Japanese equities is not sustainable without a correction in the near future.

Buy/sell signals for Fidelity funds are available at FidelitySignal.com 

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