$JNUG/$NUGT Ratio. Published, old chart still working

Killing the shorts. O/s day


How do you read this chart? Does a rising ratio indicates that miners are bullish overall with 3Xjuniors leading the way?
pantheo Will Wong
Yes. Using it as sentiment gauge. This ratio is always acting one step quicker in major points than GDXJ/GDX ratio, so I'm getting the feel of how speculators are positioned. Then I combine it with latest COT's and "swing spots" in CME futures/options volume and open interest figures along with sentiment data of the sector and gold's public opinion readings. Rarely trading these vehicles apart from times I have a solid entry and exit levels.
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