INK Canadian Insider Index

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. In our previous update on Feb 28th, the INK CIN Index turned on the jets and clocked a one week gain of 1%, powering through 970 resistance. Last week, the Index maintained its high velocity and tacked on a further 31 points, registering a closing price of 1006.69 for a blistering gain of 3.1%.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. In our review one week ago, we suggested that the seemingly bearish candle two Fridays ago might only mean a slight pause (and not a meaningful reversal). After a mere one-day pause, the Index turned on the afterburners and surged 2.4% or 23.4 points to 995.09. Interestingly, the Index closed Friday much the way it closed the previous Friday, with a reverse hammer.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Since our last update, the CIN Index continued its climb, rising 11 points or 1% and it even reached a high of 975.76, before closing the week at 971.69. The close on Friday was a bit negative, as it closed down over half a percent from its highs and left a reversed hammer pattern. However, we did see a similar reverse hammer pattern on Feb 22nd and it simply led to a 2-day pause before the Index made a new multi-week high.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week proved a very significant week for the Index as it not only completed a bullish double bottom pattern at 900 but the Index also went on to blast through a major area of congestion which included its 20 and 50 day moving averages at 933 and 951 respectively.

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 Index pulled back steeply to the 900 level, which we've been noting as a key support, before closing last week at 921.70. While its initial momentum has definitely dissipated with a drop of nearly 3% since our last update, a pullback to 900 was not unexpected as a re-test is often required before we can see an advance play out.

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.  Last week, the INK CIN Index paused, shedding 5 points or 0.5% after racking up an almost 7% rebound from its lows where it gapped up twice in the span of a week.

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 in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. In our last update, we theorized the INK CIN Index would find a bottom around the 900 level since it based in that area for a few months during 2013. As it turns out, the Index did use this level as a springboard, after completing a capitulatory bottom which saw it fall as low as 885 intraday on January 20th, piercing below its lower Bollinger band. Later the same day, the chart completed a bullish hammer pattern, when the CIN Index closed the day with a small gain after making an impressive reversal 2.4% above its lows. We then saw two more positive days of gains, including Friday where the index bullishly 'gapped up' at the open and closed strongly near its highs.

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

Thank you for joining us in a technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. It's been a gruelling few weeks for stock markets worldwide, and Canadian stocks were no exception. The INK CIN Index has fallen 9% since running into resistance once again at the 1000 level in late December.