INK Canadian Insider Index soars to new 2019 highs at 1172.23

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.

Return to homepage
Sun, 12/01/2019 - 7:31 pm Nicholas Winton, High on the Hog

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN extended its powerful ascent last week after just a slight pause the week prior. The Index shot up 15.99 points to carve out a brand new 2019-high at 1172.23 for a 1.4% gain.

RSI rose 6.61 points to 79.89. MACD added 0.02 to 0.29. What’s noteworthy is that our short-term momentum indicator RSI is spending more time than usual above 70 instead of rolling over and correcting sharply. Note that persistence at these elevated levels can indicate an uncommon but very bullish melt-up phase is underway.

Support rests at 1150 and 1160. Resistance is at 1170 and 1176 (upper Bollinger band).

The Index put in a stellar performance with its 4th gain in 5 weeks, outrunning the SPDR S&P 500 ETF (SPY*US) (up 1.08%), as well outgunning the price of copper (up 0.51%), gold and silver (both up 0.62%) and crude oil (down 4.51%). With oil taking a big hit and gold and silver looking ready to rally, will the Index be able to maintain its torrid pace? I look forward to watching these trends play out in what promises to be a memorable final month of 2019.

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

Sneakers Store | Autres

Tags:

Category:

Join the discussion in INK Chat!