Jordan Roy-Byrne CMT, MFTA ⛏⛏

Gold stocks are turning back up vs. the Mag 7 within a 6-year-long base dating to 2020.

They have a major positive divergence to Gold, which is a bullish signal by itself.

The last time the stock market peaked and began a secular bear market (2000), capital rotated first into gold stocks.

Too early to know if a repeat is coming but continue to be mindful of the relative strength in miners.

Miners and large juniors are showing resilience.

Gold is down 30% and Silver 60%, yet GDX/Gold and GDXJ/Gold are flirting with breakouts from 13-year-long bases.

This is atypical after peaks in metals.

When the bull market resumes, miners and juniors look poised for significant outperformance.

GDXJ reached extreme oversold condition on Friday.

0% of Top 33 stocks above the 20-DMA and 50-DMA with only 6% above the 200-DMA.

At worst, it could rebound back to 50-DMA or +20%.

We are entering a window for the best buying opportunity, in Gold, Silver and select miners/juniors, perhaps until the next decade.