.SPX: What's Going on?
My thought remains that the $S&P 500(.SPX)$ will correct the November through January rally with price declining towards 4500 - 4600, I don't think much of market will avoid the red paintbrush, including small caps, ARKK-like equities and the '2020-growth' cohort.
With that, $ARK Innovation ETF(ARKK)$ is approaching my level of interest between 40 - 45. Following a healthy corrective move in the broader indices I am speculating another round of outperformance from this group.
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$ARK Innovation ETF(ARKK)$ has entered the 40-45 range. I’m paying attention here, and think there is a good chance we will see price trade towards the lower range (40) before setting up to later make a genuine breakout.
I tend to think ARKK and $iShares Russell 2000 ETF(IWM)$ categories will create their bottoms before the corrective move in the broader indices $S&P 500(.SPX)$ and Nasdaq has concluded.😁😁😁