BMR was bang-on in terms of predicting a turnaround a couple of weeks ago in the CDNX…the Venture Exchange jumped 32 more points this week to close at 1427 and has moved up in 13 of the last 16 trading sessions…the bottom of a nasty 2-month slide came July 6 when the CDNX fell as low as 1343…the 20% correction from the spring high was very normal within an ongoing bull market by CDNX historical standards…the pattern the entire year so far has been strikingly similar to that of 2004 (which also bottomed in July) as we illustrated in a very important article July 16…from late July, 2004, through December, 2004, the CDNX gained 25%…for more details on the technical validation of the CDNX’s reversal, please refer to John’s excellent article that was posted this morning…at BMR we believe we are blessed with an exceptional technical analyst…the CDNX will face some near-term resistance around 1450 and it won’t likely be straight up to the moon from here, but the bottom line is that this market is looking very strong for the balance of 2010 and by September things could really kick into high gear…what has been particularly impressive and revealing about the CDNX over the past few weeks is that is has been climbing in the face of weakness in Gold, though Gold had a very good day today…the CDNX has proven to be a very reliable “leading indicator” of a lot things including the direction of Gold…the strength in the CDNX over the past few weeks is a strong clue that Gold has either already bottomed or is very close to hitting a bottom…the yellow metal closed today at $1,181, up $15…more chopiness in Gold can be expected in the near term but there is clearly very strong technical support between $1,140 and $1,160 where physical buying will also come into play…if Gold can hold support over the next 2 or 3 weeks and form a nice base, that should set the stage for a renewed advance by late August/early September which kicks off a period of season strength for Gold…