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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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Dots

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Sunday, January 23, 2022

ARKK: Bears Still In Control

An inverted cup and handle began to form in November of 2020 on ARK Innovation ETF (ARKK), as shown on the following daily chart.

A bearish moving average Death Cross formed on June 30, 2021 and never reversed after that date.

The bears are still firmly in control of this ETF.

As of last Friday, price is sitting just above the 50-month MA (70.696) and just below the 200-week MA (73.404).

A break and hold below 70.00 could send it down to 40.00, or lower to its IPO price around 20.00.