INK Canadian Insider Index retreats to 1128.96

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index pulled back 6.5 points or 0.5% before closing at 1128.96.

MACD rose 0.9 points to -4.37. RSI our near-term momentum measure fell 6 points to 44.9 which is quite low.

Support is at 1120 and 1100. Resistance is at 1144 (20-day moving average) and 1160.

Last week, copper rose 0.4% and US Indices rose 2%, and I expect to see the INK CIN begin to rally shortly. The Index did pierce its lower Bollinger band at 1129.88, and that may be enough to elicit a rebound. As well, I think we're near a sharp rally in gold, silver, and Venture stocks. If that happens, the INK CIN is likely to move up alongside them. It should be an interesting week.

The INK Canadian Insider Index is used by the Horizons Cdn Insider Index ETF (HII), a 2017 and 2018 Fundata Fundgrade A+ (R) award winner.