The question about the tapering of the Fed’s QE3 program dominated the markets today. The S&P 500 index managed a modest gain of 0.63% and closed at 1786.54.
As the broad U.S. equity averages continue to stay in bullish territory, one of the most important changes in market dynamics is the re-emergence of technology, as one of the market leading sectors. Fidelity has several tech funds that can help investors to take advantage of this new trend. Here we highlight three of them:
The Fidelity Select Electronics Fund (FSELX) was the best-performing Fidelity mutual fund today (source: www.fidelitysignal.com/market_indicators). FSELX top holdings include large cap technology companies, such as Intel, Broadcom, Qualcomm and Micron. FSELX reached a new 52-week high today and we would not be surprised to see it become one of the top funds in the next market cycle.
The other two tech funds we’d like to highlight are the Fidelity Select Software and Computer Fund (FSCSX) and the Fidelity Select IT Services Portfolio Fund (FBSOX). Both funds continue to show an almost uninterrupted bullish trend since the April market correction.
Buy/sell signals for Fidelity funds are available at FidelitySignal.com