The Tell: These 3 charts show the beginning of the end for Wall Street’s big winners

All good things must come to an end, and the blistering rally in Wall Street’s “safe” stocks is no exception.

After a strong advance in the first half of the year that led utilities and telecom — two sectors traditionally viewed as havens in times of market turmoil — to jump more than 20%, the rally now appears to have lost steam.

On Tuesday, telecom, utilities and consumer staples — another safety play — were leading the losses, down 1.5%, 0.9% and 0.8% respectively.

Over the past couple of weeks, even though utilities and telecom are still leading the market on an absolute basis — up 20.5% and 20.3% year to date respectively — they have underperformed the main benchmarks on a relative basis, said Jonathan Krinsky, chief market technician at MKM Partners, in a note released Monday.

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