Below we highlight the relative strength of the ten S&P 500 sectors over the last year. In each chart, rising lines indicate the sector is outperforming the S&P 500, while a falling line indicates the sector is underperforming. In each chart, we noted the 8/15 low in the S&P 500 with a red dot, while charts highlighted in red indicate sectors that have underperformed over the last year.
Shortly after the low on August 15th, Consumer Discretionary and Financials, which led the market lower, showed upticks in relative strength. However, the outperformance was short lived as both sectors appear to be resuming their downtrends. Meanwhile, Energy and Technology, which underperformed for brief periods right before the 8/15 low, have resumed their upward trends.