The above chart compares the New York Stock Exchange Index (NYSE) to the Junior Miners ETF (GDXJ). The ratio has created a strong move up over the past few years, as the stock market has performed tons better than the miners ETF.

The ratio may have created a head & shoulders topping pattern. Even if the pattern read is incorrect, the ratio does find itself at the bottom of a rising channel, as it test support.

What takes place at this support line could be very important for miners and where they will be at the end of the year!!!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past