INK Canadian Insider Index at key resistance

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
$229/ 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
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 CIN, perhaps feeling the effect of some tax loss selling which I had underestimated, could not break up and through its 20-day moving average at 1270, and ended the week down nearly 7 points.

Support is at 1254 and 1260, while resistance is at 1270 and 1280.

Our long-term momentum indicator MACD rose 1.2 points to -1.8 while RSI fell 4.3 points to 48.5.

The rise of one momentum indicator and fall of another shows the INK CIN is fighting some short-term price weakness which began in late November, while at the same time trying to put in a meaningful bottom from which it can break free and head to 1300 and beyond.

On the plus side, tax loss selling is nearly over, the price of copper is rising and mining stocks are starting to show some relative strength. On the negative side, MACD is locked in a downtrend that began back in October and looks like it may need a couple of weeks to situate itself in a more bullish set up. Near-term, the Index needs to break above 1269 (see red resistance line) in order to avoid a trip back to 1240.

Our weekly technical updates will resume in the New Year.

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).