The chart below reflects that over the past year, Gold Miners ETF (GDX) has under performed the S&P 500 by over 50%.
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Is the year long relative weakness about to end for the miners?
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The Gold/Gold miner ratio sets near all-time lows and is working on a breakout, in the inset above. GDX is nearing the top of its falling channel.
GDX has NOT broken out at this time!
For Miners to move from a relative weakness to play to a relative strength play, they have to take out resistance!
