INK Canadian Insider Index rallies 4.3% alongside soaring crude

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 Club
$299/ 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 CIN added 36.03 points or 4.3% to close at 877.17.

MACD jumped 8.43 points to 1.13. RSI rose 9 points or 20% to 54.43. We note that RSI has not made a new high since the price peaked in late April.

Support is at 831 (lower Bollinger) and 817 (50-day moving average). Resistance is at 900 and 912 (upper Bollinger band).

As far as performance goes, the INK Canadian Insider Index beat copper (2.4%), the SPDR S&P 500 ETF (SPY*US) (3.2%), gold (-1.18%), and silver (3.65%), but trailed rocketing crude oil (12.64%).

Global X Copper Miners ETF (COPX*US), which typically leads the price of copper, rose an impressive 5.61%, though it has a clear gap fill about 5.6% lower. So we will see if the ETF retraces to close that gap and whether both markets and the INK CIN follow suit and retreat.

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

Comment On!

140
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 CanadianInsider.com (via Easy Blurb).