Canadian Insider

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

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN Index, fresh on the heels of a powerful reversal (along with other rising world markets) continued its forward momentum and rose nearly 10 points or a modest 1% this week to 945.49, clearing its 20-day simple moving average at 937.3. The Index bullishly gapped higher when markets opened on Friday morning, and by day's end the CIN index found itself 6.8% off its January lows.

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.

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

Thank you for joining us in our weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Since our last update, the CIN Index saw its already waning momentum grind to a halt, resulting in a breakdown below the 1000 support level to 975.

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.

In our last update, the CIN Index surged to a new multi-week high and looked ready to make a big break out. Instead, the Index reacted as if it had hit a brick wall head-on upon reaching the 1040 resistance level and sank nearly 4% by week's end. As we can see, the red arrows on our chart now indicate 5 or 6 failed attempts to break and hold above 1020/1040 resistance.

Today, we're going to take a technical look at mining stocks which are an important element in the commodities market since their direction and movement tend to lead the price of gold.

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

Thank you for joining us for our technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Since our last update in which we highlighted several bullish characteristics of its chart, the index bounced from the bottom of its consolidation pattern and rose 2% before pausing on Friday. 

Late last night we posted our April INK Edge Top 40 stocks on the INK Research website for subscribers. Saskatchewan focused Foran Mining Corporation (FOM) took the top spot. Miners in general have had a strong showing this month: Claude Resources Inc. (CRJ) and Dominion Diamond Corporation (DDC) helped to account, with Foran and other miners, for five out of the top ten spots, and, all told, Basic Materials (25%) edged out Financials (22.5%) to maintain its lead in the Top 40's sector allocation.