The stock market started February under selling pressure after a weak January performance, which created a short-term oversold condition. Stocks found support on Tuesday and Wednesday, and rebounded on Thursday and Friday. The chart shows that the benchmark Fidelity Spartan U.S. Equity Index Fund (FUSEX) bounced back from the blue short-term support line.
The two weakest sector funds are the Fidelity Select Consumer Staples (FDFAX) and the Fidelity Select Energy Services (FSESX) funds. The top portions of the charts show the relative strength of these funds compared to the S&P 500 index. The blue arrow denotes that the relative strength of FDFAX started to decline in April of 2013 and continues to weaken this year.