Interest rates on the rise means 1. end of world. 2. banks start collecting more interest. Took several monthlies in anticipation that gs will find new ways to make money very soon.
From broader market, maybe not. Does seem like $ARKK is selling at $760, possibly adding $TDOC or $ZM
Looks like a large converging triangle trend since after stimulus/meme reddit exhaustion. Trend lines respected if we don't break 720 likely down to 680 and a further test here of the pattern.
I would be pretty bullish if TSLA hit 680 and bounced hard, otherwise looking for continuation in that 'mania' exhaustion showing in rsi trendline. News important: FSD liability, interest rates against Growth/QQQ, btc crashing again.
I still see cracks in TSLA, ROKU, and TDOC from summer highs. ARKK was a seller of 200,000 shares ~, and the stock is flirting with wiping out ARKK's entire gains for the year if all 3 of ARKK holdings don't recover. BTFD seems to be ARKK current portfolio, which was also Bill Hwangs idea, her trading friend who led to a market wide collapse through his meme...
Similar to zoom recently Cathie will add stocks on the dip, especially if they are below here cost average. If she doesn't... well you see this is a bidirectional chart. As her #2 holding in ARKK I am wondering at what price she believes this is cheap.
QQQ on weekly or daily chart looks like lot more room to drop and everybody bearish AF. I would wait and see this week out because if anything looks like oversold last Friday and the bounce will tell us if it's dead or alive.
I'm personally short ARKK, not zoom, but as ARKK's 6th largest holding I am especially interested in whether C. Wood is buying this dip, or anyone else? I see Zoom as well as other C. Wood's holding as a btfd play that is almost 'all in'. If you like zoom here, you should also buy the dips in tdoc, tsla, roku, which all reached ATH's earlier and have retreated...