Going to short the ARKK bounce.The theory used here has a few parts.
1 - If/when the 423 of a bottoming swing is met, there's most often a pullback or reversal.
2 - Most commonly there's a spike out of this level. Stops are gunned and then the move comes. I think we may be here.
3 - If we're in this style of move, the 423 will typically hold a retest. This is another spot to take shorts here.
The risk zone for this type of trade after the spike out is small. It's either right or wrong (Most of the time) and tight stops can be used. Targeting a spike out of the last low, this offers a little over 1:10 RR.