10/22 AM EDIT: I've just been dead wrong here, so I'll just stop commenting on it. Defensives didn't bother rallying until post debt deal. Now, they are all climbing the relative strength rankings.
Some great looking setups popped up across the gold miners in the last few weeks. I lauded them as a top group, but I jumped the gun. While the June lows have held thus far, we're looking for the best groups in the market. Also, numerous bottom reversal setups have been invalidated.
With all of that said, a defensive group weakening is great news for the overall market!
I'm not seeing any other obvious top groups out there. The same key themes are still in play: networking, alternative energy, energy and applications/Software-as-Service
One group worth eyeing is the industrial metal miners. Some favorites at this point include US Steel, Cliff's Natural Resources and Walter Energy.
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