What is the CDNX ?

The S&P/TSX Venture Composite Index is a broad market indicator of Canadian micro cap securities in Canada. Its constituents numbering 392 are listed on the TSX Venture Exchange. The index is market capitalization weighted. The Toronto Stock Exchange (TSX) serves as the distributor of both real-time and historical data for this index

What is the Sector breakdown within the CDNX ?

Largest piece of the Pie is Miners (54%)

What are the Top 10 Constituents ?

Aphria Inc. APH Health Care
First Mining Finance Corp. FF Materials
Storm Resources Ltd SRX Energy
Gold Standard Ventures Corp GSV Materials
Roxgold Inc ROG Materials
Westaim Corporation WED Financials
Tidewater Midstream and Infrastructure Ltd. TWM Energy
Gold Reserve Inc. GRZ Materials
Integra Gold Corp. ICG Materials
Leucrotta Exploration Inc. LXE Energy

Why is this Tiny Market Important for Precious Metals Analysis ?

The CDNX is representative of Interest in the Most Speculative Sector of the market…Micro and Nano Caps

While just over half of the constituents are Miners, it is still the best gauge of interest in this sector.

Here is a Post from Rambus from mid 2014 showing the History and analysis of the CDNX…and how Rambus sued the CDNX to get outa Dodge back in 2008 !As we all know 2014 was still the heart of the bear so this move did not pan out, But Look at that Chart with respect to 2008 and how important that break was to recognize early.

https://rambus1.com/2014/06/18/wednesday-report-cdnx/

Now a more recent Analysis of CDNX ( April 2016)

https://rambus1.com/2016/04/08/cdnx-update-13/

Lets see what CDNX has been doing up to the moment

has it been Whacked like all the other PM Indices GDX GDXJ et al , since mid last year ?

Dropped to the first Fibo FROM THE TOP ( Most other PM Indices fell to the third Fibo)

Bounced this year to last years top …Most others didn’t get close to last years top

Conclusion :The tiniest market cap PM miners index (albeit diluted) is out performing. Speculation is alive and well