INK Canadian Insider Index falls, but hopes to hitch a ride to copper, world markets

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.

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 couldn't muster more than about 5 points to the upside before falling, rolling over, and continuing its correction. The Index fell 26.9 points to close the week at 1106.85 for a 2.4% decline, amounting to a stinging two-week loss of 4%.

MACD tumbled 7.7 points to -2.6, snapping a 4-week streak of gains. RSI fell for the second week straight, dropping 19% or 7.1 points to 30.1.

Support is now at 1100 and 1079 which was, interestingly, the Winter low hit nearly two years ago today on Nov 14th, 2016. Resistance is now at 1120 and 1140.

The Index is now back to its end of October lows. Despite its recent drubbing (in part related to some unfortunate constituent stocks), the underperforming INK CIN hopes to springboard from these lows and play catch up alongside the strongly rebounding US and world markets, not to mention the price of copper which rose a robust 4.25% last week. Given these factors as well as the sharp degree of the current decline (see solid green line), a bounce would be well within expectations over the next week or so.

Sneakers Store | Buy Yeezy Slides 'Core' - Kanye West x Adidas — Ietp

Join the discussion in INK Chat!