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"Saturday, January 2, 2010 - The CDNX S&P/TSX Venture Composite Index is composed of small-cap companies, most of which are involved in the mining and energy industries. The index broke below the 2000-2002 lows in late 2008 (refer to chart), then successfully broke back above those lows, and has – in the final week of 2009 – broken cleanly above both the year 2000 major high and 2004 significant low. If it holds above the 1400 level, it is likely that mining and energy stocks in general will rally further – at least until the next significant resistance area between about 1900 and 2000 is reached. This is a major development for mining and energy companies as it increases the odds that recent breakouts in uranium miners, oil sands producers, and base metal miners are genuine. Furthermore, it improves the odds that the recent and fully anticipated correction in gold, silver, and precious metal miners soon will end and lead to rallies to new highs over coming months."
http://thedailygold.com/editorials/c...-2009/?p=1161/
http://thedailygold.com/editorials/c...-2009/?p=1161/