INK Canadian Insider Index slips 2.34% with US markets and oil

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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 Index could not move far above 960 before its momentum buckled and it slipped 22.19 points or -2.34% to close at 923.36.

MACD dropped 0.5 points or 5.3% to -5.31. RSI tried but could not cross 60 and dropped 8.78 points to 48.53.

Support is at 900.53 (50-day moving average) and 899.94 (lower Bollinger band). Resistance is at 944.34 (middle Bollinger band) and 988 (upper Bollinger band).

As far as performance goes, the INK Canadian Insider Index beat the SPDR S&P 500 ETF (SPY*US) (-2.78%) and crude oil (-3.36%) but trailed silver (+1.05%), gold (+1.56%), and copper (+2.6%).

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

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