Following "Breakout," INK Canadian Insider Index tumbles 1.5%

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Talk about whiplash. The INK CIN followed its powerful-looking breakout and 14-point gain two weeks ago, with a strong correction last week. The Index shed 19 points or 1.5% and was tossed back under its long-term downtrend line and closed below 1180, its major resistance and nemesis for the last several months.

RSI nosedived nearly 22 points or 33% to 43.06. MACD shed 3 points to close at -1.25 for its first negative close after two weeks in the black.

The Index closed below its 50-day moving average at 1173, and so we're looking at 1170 and 1165.84 (its 200-day moving average for support). 1180 and 1174 are its key areas of resistance as we look ahead.

The Index which found itself in a terrific position for a Fall breakout two weeks ago, now needs to rebound strongly to ensure the funk of the past few months does not set in once again. The key for the bulls is to see the INK CIN regain its footing above 1173 for that level falls right upon the downtrend line (shown in red) which has capped its ability to advance since late-February (aside from this last big run).

Buy Kicks | nike mercurial superfly green size 7 shoes europe Magic Mushroom , Where To Buy , DH7650-600 , Ietp