INK Canadian Insider Index Rebounds Strongly After Pullback

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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 dipped to the 1250 area (1246.94 in actual fact) before catapulting higher as I speculated in my last blog. In all, the INK CIN added 4.85 points while closing nearly 22 points off its week's low, and remains near its all-time highs of 1273.62 reached on November 1st.

RSI dipped 1.73 points to 64.02. MACD dropped nearly a full point to -2.58. Slow and fast lines slipped below the key 10 point level.

Support is back at 1250 and 1260, while resistance rests at 1270 and 1273. Last week's mini-breather looks more like an energy recharge than anything else. The INK CIN continues to look very bullish.

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