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The building block to a decent rally in the hard hit miners complex could start with this taking place!
The above chart reflects the Junior Miners ETF (GDXJ) to Senior miners ETF (GDX). When this ratio is heading south, GDJX is weaker than GDX.
The ratio has been hit hard and could be near channel support right now.
In my humble opinion the first potential bullish building block would be a rally in the ratio, breaking above the steep falling channel it has created over the past few months.
Stay tuned, this could be fun for this hard hit sector if certain things fall into place.