The S&P 500 index closed above 1,800 for the first time. The Dow also made a new high today, indicating a very bullish stock market.
The biggest gainer today was the biotechnology sector. The Fidelity Select Biotechnology Fund (FBIOX) was up 3.15% and continues to be the best performer of 2013 with an incredible 60.05% year-to-date gain. FBIOX shows a highly bullish chart pattern, since it broke through the blue resistance line.
The Fidelity Japan Smaller Companies Fund (FJSCX, last change: 1.83%) rebounded today after the -4.12% drop yesterday. FJSCX has returned a stellar 22.93% year-to-date. This performance is matched only by the 21.45% 2013 return of the Fidelity Select Biotechnology Fund (FBIOX). We would not be surprised if volatility continues for Japanese stocks. That is why we see more investing opportunities in U.S. equity sectors.