A trend line drawn from the pre-pandemic crash high in early 2020 to the current price point gives us a trend line that has acted as support as many as 10 times since July 2020 without failure. This would suggest we are currently sitting on a strong floor and should bounce higher from here. That would be quite bullish for $ARKK and probably its largest holdings,...
Looks like a visit to the 200dma on the table again as mid-bolli has held as resistance
$TSLA $SQ $ROKU $TDOC $BIDU $SPOT $Z $SHOP $QQQ $SPY #ElliottWave #Stocks 📉
Today, we will post a quick view of ARKK
-The main bullish structure is the ascending trendline coming from MARCH 2020
-After a 33% sell-off from the ATH levels, we saw support on the ascending trendline
-From a more close perspective, the descending trendline of the sell-off has been broken, and now we are observing a corrective structure making a throwback...
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.
Those who investing in ETFs and Funds, are usually cautious investors!
But the question is how safe ARKK could be for the storm ahead..?
ARKK, rewarded the investors 384% in less than a year, but lost 34% of its value in 13 days!?!?
I believe after breaking its yearly trend line ARKK has a hard path ahead to reach new highs again, specially when Tesla the biggest...
Just My Market Rotation graph, 1 hour, including extended hours. This is graphing ETF performance divided by SPY, showing relative performance over time.
IJS - iShares S&P Small-Cap 600 Value ETF - Is really outperforming everything. Eventually this has to stop? Dividends are doing well too.
The only other asset class beating it is BTC (not graphed). BTC is the...
ARRK caught in what I am going to call the Bermuda Triangle. Price will likely stay bounded within this until it decides which direction. Watch the key support-resistance triggers (red triangle) for price to tip it's hand.
In US stock market, the index NASDAQ and Russell 2000 having a biggest correction since 2020 Mar.
And most of the new economy stocks dropped more than 20% like TSLA, SQ, PYPL etc....
Many people said ARK investment and Cathie Wood is bad/dead now....
Therefore, I would like to show my ARKK trading plan here.
For ARKK, it dropped more than 50% in only 14 trading...
$ARKK has been the soul of the bull market over the past 6 months.
It has been crushed in recent weeks, but just hit key level support in step with an RSI bull signal last seen at its pandemic crash March 2020 lows.
