The JSE Top 40 has been ranging but finding some support at the breakout level of the previous trading range. Looking at the comparison of the three main sectors in the JSE since April we can evaluate recent relative strength. The Resources sector has been strong and even looking at resent lows on 12 September it has remained the strongest of the sectors. Financials have strengthened some since end of June and is also remaining above the September 12 lows. Industrials on the other hand had been tracking the Top 40 performance but since 12 September has been very week falling strongly even as the other sectors hold above the low. If the Top 40 is to break support Industrials would be the sector to look at to go short but if we see a bounce Financials and Resources would be the go to sectors.