INK Canadian Insider Index bulls past 1294, sharpens teeth on 1300

Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following two offers if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
3 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
30-day money back guarantee*
Canadian Insider Ad-Free
$49/ year*
All benefits of basic registration
No 3rd party display ads
30-day money back guarantee*

* Price is subject to applicable taxes. Money back guarantee: For bona fide Ad-Free or Canadian Insider Club subscribers, if you cancel with-in 30 days of first subscribing, we will refund your payment upon request. After cancelling, using the same email that is associated with your account, request a refund via our Contact Us form at the bottom of the page. We will only consider one refund request per household or organization. We cannot accommodate refund requests where an account holder has not provided verifiable address and billing information.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index finally smashed its way through major resistance at 1292-94, as I forecast would happen in last week's technical review. Indeed, the Index surged as high as 1308.11, setting a new all-time high on Friday, before closing at 1299.05 for a gain of 7.4 points.

RSI added 2.8 points to close at a robust level of 64.8 (reaching a high of 68.28), exceeding for a second week in a row the 60 resistance level which has acted as a headwind on the Index for much of the last 4 months (in fact, the 60 RSI mark has terminated no fewer than 4 rallies since late January). MACD added 0.4 points to reach 1.27 and the Index remains on a MACD buy signal.

Support is now at 1285 (20-day moving average) and 1290-94 (previous resistance). Resistance moves up to 1300 and 1308-1310.

Last week, the Index spent parts of three days above 1300 and closed above it once. The longer the INK CIN can spend closed above the 1300 mark, the sooner the Index should make a clean break of this level and rumble toward brand new all-time highs.

Comment On!

Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to (via Easy Blurb).