IF you still HOLD, ARK investment Stock (Cathie Woods), you might have a 2ND chance to DUMP, before it goes down even LOWER. The ARK's should grind higher for the next 2-4 weeks (as the DOLALAR weakens), then continuing LOWER again with the rest of the US-MARKET. While there is a 25% chance this could be a start of a 5th impulse wave, I think this possibility will FAIL because the ARK's are not strong enough to swim against the TIDE of an entire US_MARKET decline/correction. Based on price action SELL incrementally 50%,50% or 33%,33%,33%
You aren’t even close with your projection. Far below that.
CJS04
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Ark has a very very very far drop to take. Very far.
wolffarchitecture
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@CJS04,
1) I'm forecasting a standard fib .382 for WAVE-4 off 12/27/2018 lows and 3/16/2020 lows, (which are about the same).
2) Major Wave-4 corrections can and will often end in the territory of proceeding minor Wave-4, which is what I am showing.
3) The tops of a corrective WAVE-B often ends on a trendline drawn from the tops of WAVE-1 and WAVE-2, as shown on the Chart below.
I have no reason to believe it "should" go lower. (regardless of how I feel)
CJS04
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@wolffarchitecture, I am lighyears ahead of you in charting bud.. sorry! Thats why I make the money I do both personally and professionally
@wolffarchitecture, Actually not shorting, not ARK. Other shorts are open... ARK may be added after it bottoms out in a few months but then again, there are much better things to be in. Tesla itself, Apple, IGV, VGT, TQQQ, ADBE... as well as others. ARK isnt bad but not at the top of the list. I just happened to come across your post in the "newly posted" list. Good luck to you as well though... patience.A nice drop is coming. A very nice drop.
wolffarchitecture
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@CJS04, Nice chatting with you brother, BTW, My TSLA chart is nearly identical to ARK's.
With some differences, Such at TSLA's 1 Year long Extended 5th-WAVE but I don't think a new top for TSLA is comming anytime soon.
CJS04
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@wolffarchitecture, you as well. Next up is the 415 area on Tesla, it will bounce there for a lower high before snapping it... lots of downside coming but anyone who bought last march and either is just an investor or has no idea how to chart will still see a very nice 100%+ yearly return which is pretty healthy for a blue chip stock. I just am looking forward to the drop and then catching the next bounce even if short term taxes gauge the heck out of profits. Anyway, stay safe, enjoy your weekend bud!