Ref. the June 17 update showing the ratio of the TSX-V to the TSX in a Diamond formation from which it would soon break one way or the other. Today it chose that direction.
From that update (still applies):
On the weekly view [chart not included in this update] we can see that a breakdown that loses support would really hurt the case for a near-term reflation and commodity rally. However, the ratio can still break upward without being set free into a real bull market. That is stern resistance up above. Not until that is clear should we become carefree commodity bulls.