ARKK has become the bell weather for small cap growth so it is a good ETF to track if you have small cap growth names in your portfolio. There has been some recovery in the growth space, but the ARKK charts shows us that growth names are not out of the woods yet. ARKK is still struggling to break above the ema cloud and has not broken the downward trend line. The up trend will not resume until price breaks above the neutral (tan box). In light of this caution in warranted before jumping heavily into the small cap growth space. The best approach is to scale into positions if you want to enter.
Note
Rallied into trend line resistance and rejected. Bulls need to see a break above the trend line. Bears want to see continued weakness below the trendline.Note
Price has rallied back to the trendline. I have an alert set for a break of the trendline. If ARKK can break the downward trendline it bodes well for the small cap growth universe.Note
ARKK broke above the downward trendline = positive news for growth stocks.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.