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Arkkcorrection

I wasn't bearish enough on $ARKK, going to $22 before bouncingARKK is complete garbage with many of the stocks in the ETF now breaking to fresh lows. I originally thought we'd bottom in the $45 range (you can see how that panned out in the previous analysis below), but it turns out I wasn't bearish enough. Now, I think we're likely to see a capitulation move down to $22 before it starts to recover. If we look at the chart, ARKK broke through it's final support and now the only thing that can hold it up is the minor support at $35 that's already been tested multiple times. Because of that, the support is weak, and if it breaks that support, there's nothing keeping it from freefalling down to $22. ~50% drop from here? I think so. If you're already long in this, set a stop under $35 to prevent yourself from losing a lot of money quickly.
AMEX:ARKKShort
by benjihyam
Nasdaq Index - Bull or bear market more likely?I got a bit of criticism over not being clear enough in my previous chart. So i have created specifically a Nasdaq index chart which will show my thinking more clearly. The Nasdaq index back at the start of 2000 was the bull market to end bull markets. The innovation of using the internet was a technological revolution and no one saw an end to the bull market...until it ended. The end coincided with a break of medium term trendline as the internet startups folded one by one. From that point onwards the Nasdaq entered a brear market and didn't recover the old highs for another 15 years. We're in a similiar position today, with the fed about to raise rates to control inflation, no one appears to think the impossible is possible. It is. If we break this medium term trendline, which appears to be very close to breaking (2 weekly closes below the line would confirm a break), we would expect a bear market to follow. This could take decades to recover from. What goes up, must also come down (at least a bit). The fact that the nasdaq market cap is more than half comprised of only 6 companies, suggests that it is just as sensitive to a large correction today. Albeit the reasons for a bear market will be very different. Easy money has distorted the markets and funds like Arkk that think 40% annualised returns are possible with these stocks may be signs that we are at frenzy level of bullishness (just like in 2000). I do not expect the bear market to be as bad as the beginning of the millenium, however i do think it will be signficiant and it could be coming sooner than expected, with fed tightening expected to quicken.
NASDAQ:NDXShort
by WinstonWolfe
6
Starting to buy ARKK here.Not a big stock guy but shifting capitol from crypto to diversify into some investments that actually represent tangible companies that make things lol. Strategy is to buy stocks/ETF's at standard classical pattern supports that are down 30-60% and let it ride. I am betting that 8 out of 10 stocks I am about to punt will not go to zero and that 40-60% discounts is a good deal. Falling wedge here and a nice dogi daily candle forming. Not advise archiving thoughts.
AMEX:ARKKLong
by A5gamakatsu
#ARKK is this popular fund a BUY?Someone asked me abt $ARKK #ARKK. Well supported above 200ema (thick red line) 1st Supertrend flip to Buy. For Swing traders who entered earlier, First possible TP: 135 Please be cautious n nimble. We are heading into strong Resistance Zone 120-128 (High Volume Nodes). Take note of incoming Candle Colours. Will like to see Olive and Dark green candles in the coming days (that provides indication of strong buying volume for upside trend continuation) . Long Term Investors, check #ARKX or #BLOK instead! #CathieWood #ARKKInvest #VCCB
AMEX:ARKKLong
by PeterSG
2