INK Canadian Insider Index consolidates under 1200

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
+1 year archive
Canadian Market INK weekly newsletter
+1 year 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
No requirement to accept commercial emails from us
30-day money back guarantee*
Canadian Insider Ad-Free
$49/ year*
All benefits of basic registration
No 3rd party display ads
No requirement to accept commercial emails from us
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. The Index completed a small correction that had begun the week prior with a visit to a low of 1178.25 before rebounding back above its 20-day moving average (1188.84). The Index closed the week down about 5 points at 1193.32.

The Index's short-term momentum indicator (RSI) dropped 3.79 points to 56.12. The Index's MACD indicator dropped 4 points or 36% to 7.01 and continues to be capped at about the 13 level.

MACD has chopped back and forth between buy and sell indications while the Index continues to consolidate in a tight range; last week MACD moved back to a sell signal.
The Index's support levels are at 1188.84 (its 20-day simple moving average) and the 1176-1178 area, while 1200 and 1208-1212 provide overhead resistance.

The Index appears to be allowing some of its recent bullish sentiment to wear off before making an attempt at a major advance. Interestingly, in the event of further correction, the Index could still pull back to the 1150-1169 level and still remain bullish. Indeed, mid-November saw a dip to a similar degree (40-50 points) that threw all the bulls off the train in a bit of a sentiment refresh, before the Index made a substantial 90 point advance.

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).