Checking in with the T2 Commodities model finds UNG (natural gas) as the recent momentum leader. Checking the charts reveals this is a bit of an odd situation since the UNG RSQ line is downslope, but that's the way the momentum algorithm sees it. The 3 upslope RSQ components in this mix include IYR, XLE and XLU and the expectation is that they will likely migrate towards the #1 and #2 slots.