The INK CIN Index looks positioned to turn higher

Ad blocking detected

Thank you for visiting 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

* 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.

Technical Overview by Nicholas Winton, Hedgehog Trader and @HedgehogTrader on Twitter

Thank you for joining us for our weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Since our update last week when we observed the bounce off its lower Bollinger band, the INK CIN Index has consolidated in an incredibly tight trading range. And although the Index rose just 6 points to 995.88 for less than a 1% gain on the week, it is well-positioned to break higher, ending a streak of lower highs that began after it made its late October high.

As matters stand, the Index's 20-day simple moving average at 996 is providing some resistance, having capped the Index the last several trading sessions. However, what provides renewed optimism for the bulls is that our two momentum indicators RSI and MACD have now turned up bullishly through their own respective downtrends which began in that same late October time-frame. In addition, RSI is now less than 2 points from reaching the key 50 level. This is important because when RSI climbs above 50, the index tends to stop drifting and begins to accelerate to the upside.

Are our newly bullish momentum indicators hinting at the CIN Index's break above 1000? We believe that's exactly what's happening.  

Now, should the Index in fact break above 1000, its next move is likely a 2% rally to 1020, a resistance level that has halted 5 of 6 rallies this fall. Key support remains in the 970-980 range.

Comment On!

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 (via Easy Blurb).