With the market taking a slight turn for the worse over the last two days, even as oil trades with a 40 handle, we thought it would be a good time to look at the relative strength of each S&P 500 sector over the last year.  In each chart, rising lines indicate the sector is outperforming the market, while the shading of the chart indicates how the sector has performed versus the market over the last year.  You will notice a black dot in each graph indicating the date oil peaked in July.

Some of the more noteworthy points include:

• Energy near the bottom of its range.
• Technology failing at resistance for the second time in a month.
• Recent strength in Health Care and Consumer Staples (both defensive sectors)