INK Canadian Insider Index rises 2.1%, reaches new multi-month highs

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index continued its purposeful upward climb and added 21.74 points or 2.1% and closed at 1069.58. The INK CIN is now up over 11.5% in the past 6 weeks.

MACD dipped 1.48 to 1.41. RSI remained steady, dropping just 0.16 points to 76.36. It has now been trading elevated above 70 since late July. Support is now at 1030.26 (20-day moving average) and 1050. Resistance is now at 1084.30 (upper Bollinger Band) and 1100.

As far as performance goes, the INK Canadian Insider Index beat gold (-3.86%), silver (-5.27%), the SPDR S&P 500 ETF (SPY*US) (0.68%), and crude oil (1.92%). The Index trailed only copper (2.38%) which looks like it is coiling for another run to the upside. And that would be very good news for commodities.

The INK Canadian Insider Index is used by the Horizons Cdn Insider Index (HII).