Telecom Stocks Leading

12/08/2009 10:01 am EST


Thomas Aspray

, Professional Trader & Analyst

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Another defensive group, the S&P Telecommunication Services sector, confirmed its breakout above key chart resistance in the past week. The trend line break in RS indicates that it is now outperforming the S&P 500, with next major resistance in the 120-125 area. The move into defensive sectors reflects a nervous market.