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 rebounded from its retreat to 1038.55 with a nice 32.6 point bounce to 1071.15, for an impressive gain of 3.1%.
MACD had a major reversal, going from -7.11 all the way to 2.63, for a gain of 9.74 points. Equally as important is that the MACD fast line (blue) crossed upward over its slow line (red) triggering a buy signal.
RSI sunk as low as 40.7, its lowest reading since April. That looks like a bullish washout move, for it dramatically rebounded 13.11 points, rising from a reading of 46.96 to 59.07.
As far as performance goes, the INK Canadian Insider Index beat gold (0.73%), silver (1.01%), as well as that base metal beast copper (2.52%) and the SPDR S&P 500 ETF (SPY*US) (-0.62%). However, crude oil, volatile as ever, beat all of them combined with a 10.69% bonanza of gains.
Strap on your seatbelts, for we may see a further commodities melt-up into the end of September.
The INK Canadian Insider Index is used by the Horizons Cdn Insider Index (HII).
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