The 120 level on ARKK continues to act as a very prominent level. What would you do?
ARKK 120 features a prominent low volume node and now we have a chance to meet this level with the falling trendline that starts from the Feb high to the June 2021 lower high. Together these forces will meet and ultimately decision in the coming weeks. I'll let time tell me which way I'll play this one but will the Russell 2000 be a canary in the coal mine or will it successfully squeeze bears like it's been known to do. You may also look to the Fed and forex markets to see how the dollars role may play apart. Good luck traders!
ARKK 120 features a prominent low volume node and now we have a chance to meet this level with the falling trendline that starts from the Feb high to the June 2021 lower high. Together these forces will meet and ultimately decision in the coming weeks. I'll let time tell me which way I'll play this one but will the Russell 2000 be a canary in the coal mine or will it successfully squeeze bears like it's been known to do. You may also look to the Fed and forex markets to see how the dollars role may play apart. Good luck traders!