INK Canadian Insider Index sees new high at 1213.42 before closing at 1198.20

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. The Index made a new high above 1200 (1213.42 on an intraday basis) before turning back down. The Index closed up 10 points on the week, finishing a hair under 1200 at 1198.20.

The Index's short-term momentum indicator (RSI) dropped 2 points to 59.91, holding near the key 60-level. The Index's MACD indicator rose 2.2 points or 23% to 11.08. The brief MACD sell signal switched back to a buy signal as the fast blue line crossed over the slower red line. MACD has ebbed and flowed pretty regularly in a tight 8 to 13 trading range. Similarly, the MACD buy and sell signals have whipsawed frequently even during the Index's advance. We do note MACD has not closed above a nearly 2-month long downtrend line that has capped its advance.

The Index's support levels are at 1186 (its 20-day simple moving average) and 1180 while 1200 and 1209-1212 (top bollinger band) provide overhead resistance.

bridge media | Men’s shoes

Join the discussion in INK Chat!