ARKK: looking more buoyant, but could take on water again
Updated
Opinions aside about ARKK, despite being a toxic mess (sorry, I could not avoid an opinion), the only thing that matters is 39.79 (RED). Prices have failed to get back above it convincingly, and unless they do, gravity will take hold. Neutral for now, awaiting what the market decides to do, but our edge is knowing the price level from which to decide.
Note
Thus far, 39.79 (RED) has been rejected. Prices are now within striking distance of 38.32 (ORANGE). A break below there, and the market will have voted on the fate of ARKKNote
This chart aged like a fine wine.....but it only took 6 hours!If 37.28 (GREEN) gives way......Kathy Wood and her 'believers' will be on their heels again.
Note
It's now official, the ark is taking on water.
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