INK Canadian Insider Index plunges 10.4% from 2020 highs

Ad blocking detected

Thank you for visiting CanadianInsider.com. 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 if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 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
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

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 went from notching 2020 highs to plunging a steep 127 points or 10.4% as US and world markets tumbled. The INK CIN did bounce off its intraday low on Friday of 1070.58 to close at 1095.92.

MACD plunged 12.1 points to -15.36. RSI plunged a whopping 52.93 points or 74% to 18.31. We are at levels of past wipeouts that preceded major reversal rallies in the INK CIN.

Support moves to 1070 and 1090. Resistance falls to 1100 and 1120.

As performance goes on a dire week, the INK CIN outpaced the SPDR S&P 500 ETF (SPY*US) (-11.16%), silver (-11.19%), and crude oil (-16.15%), but trailed copper (2.61%) and gold (-4.98%).

What looked like the start of a rosy breakout for the INK CIN last week was short-circuited by a worldwide market sell-off. However, I suggest investors remain calm. We are in an election year and we are all but certain to see rate cuts and economic stimulus that will send gold, silver, and markets higher over the next couple of months.

The INK Canadian Insider Index is used by the Horizons Cdn Insider Index ETF (HII).

Sports brands | Womens Shoes Footwear & Shoes Online

Join the discussion in INK Chat!