FIDELITY SELECT BREADTH
APPLICABLE TIME FRAME(S):
SHORT TO INTERMEDIATE
UPDATE SCHEDULE:
Each weekday night by 7:00 PM EST
EXPLANATION:
This indicator tracks the percentage of Fidelity Select mutual funds that have showed a return that is better than cash (short-term Treasury Bills) over the past quarter.
The indicator was introduced by Walter Deemer, and used the approximately 40 funds in the Fidelity Select series. Very simple, if the indicator is at 1.0 (meaning 100%), then every fund has beaten cash during the past three months. If it is at 0, then none of them have.
GUIDELINES:
The indicator functions like any other overbought/oversold indicator, with extremes being 90% and 10%, respectively. It tends to be particularly effective when we reach a true extreme of 100% or 0%, particularly in the short-term.
ADDITIONAL RESOURCES:
None
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