This is a possible setup to watch for ARKK. It's interesting that the Chaikin Money Flow indicator clearly signaled the previous top. If/when ARKK recovers to near the 50-day MA, it'll be interesting to see if volume profile is still weak. This isn't an actual trade for now.
Trade active:
We knicked the 30 day WMA round 130.49, and trade activated shortly thereafter. This is a long term trade basically betting that a long term downtrend in this fund began in early February 2020 and will lead to the fund's extreme decline and possible collapse.
1/21/2022: 120 P = $18.95. Target is approximately $80 - assuming SPX has sold off from any kind of Fall double top in the $4300 range around August-November and is around 3700-3400. Eventual target is mid 2022 (no option dates available yet) at pre COVID: $40 or below.
1/21/2022: 120 P = $18.95. Target is approximately $80 - assuming SPX has sold off from any kind of Fall double top in the $4300 range around August-November and is around 3700-3400. Eventual target is mid 2022 (no option dates available yet) at pre COVID: $40 or below.
Comment:
Target 1 achieved: 200 Day MA. Great place to cover short-term shorts (I'm more long term though).
Comment:
Trade closed: target reached
