The GDX/SPY ratio is again butting head with a long resistance line that has held many times (so far). A rising ratio means that GDX ETF (Major miners) are outperforming the SPY ETF (S&P index). Are we nearing a big break that will signal the beginnings of some sector rotation (i.e. Out of regular stocks and into miners)? Only time will tell, but I am keeping an eye on this.



GDX-SPY Ratio.


Best regards,

The Hedgeless Horseman

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