Will Things Turn Around for This Market Villain?

This stock was the definition of peak bull market mania… [Jeff Clark's Market Minute]( Will Things Turn Around for This Market Villain? By Imre Gams, analyst, Market Minute Bull market heroes often become bear market villains. Nobody knows this better than Cathie Wood, CEO of Ark Invest. From March 2020 to February 2021, Wood’s flagship fund – the Ark Innovation ETF (ARKK) – went on an incredible run. ARKK ran from a March 2020 low of $33 to a high of over $159 by February 2021. That’s an incredible 384% move. Recommended Link [What was in the document ‘they’ didn’t want you to see?]( [image]( He quickly raised an eyebrow and asked: “Is THIS what they didn’t want us to see?” According to Dr. Nomi Prins, the elites are rolling out a plan to overhaul the dollar, with the full backing of the White House, the Federal Reserve, and Bill Gates. She says: “Every American will be affected in ways that would’ve been unthinkable just a few years ago.” Bank of America calls the overhaul ‘imminent’… And the Federal Reserve has picked July as its target to flip the switch. In other words, time is running out to prepare… To show you everything you need to know, Dr. Prins has recorded a presentation with all the details. What she has to say is controversial, but if you have more than $2,500 in an American bank or retirement fund – it’s something you absolutely MUST see. [Click here to find out what you need to do to prepare for this historic transformation.]( -- ARKK was the definition of peak bull market mania. Investors flocked to the fund, eager to buy into Wood’s vision of the future. The holdings in her ETF were all selected because of their ability to change the way the world works. Tesla, for example, makes up about 10% of the entire holdings. Wood believes that Tesla is the future of human transportation, with its coming fleet of robo-taxis completely disrupting the auto and rideshare industries as we know them. Unfortunately, investors have been losing faith in Wood’s stock-picking strategies. Since putting in its $159 high, ARKK has sold off as much as 81%, eventually finding a bottom in December 2022. This brings us to the current year, where ARKK has been volatile once again. The ETF started off the year on a very strong note, even rallying almost 55% between January and February. Since then, however, ARKK has given back as around half those gains. And right now, my technical analysis of ARKK suggests that there’s another big move just around the corner. Let’s look at a price chart of ARKK so I can walk you through what I see. [(Click here to expand image)]( This price chart has a constellation of important moving averages (MAs) all trading in a very tight range of prices. We’re looking at the 20-, 50-, and 200-daily MAs. Notice how they’re all clustering tightly together. This means that the market is gearing up for an explosive move, either higher or lower. Here’s how either scenario could play out... Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. The bullish case would see the market punch through all three MAs, clearing the way for a much bigger move to the upside. In this scenario, the market will likely run as far as it did during its late December 2022 to early February 2023 rally. At that time, ARKK rallied by $14.77 or almost 50%. An equivalent rally this time would see ARKK trading around $49.50. On the other hand, the bearish case would see ARKK break down below the December 2022 low of $29.64. In this scenario, the MA constellation will serve as resistance, effectively putting a lid on any immediate upside. The good news is that while both scenarios are possible, the market will let us know in just the next few days which way prices will break. Either way, there’s a great trading opportunity at hand. Happy trading, Imre Gams READER MAILBAG Are you bullish or bearish on ARKK? Did you trade ARKK during its pandemic boom? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Master Trader Warns: Sell all your stocks but this one!]( Jeff Clark has been trading stocks for nearly 40 years. He knows the market. He predicted the crashes of 2008, 2020, and 2022. He’s helped his readers avoid huge losses… And still had 13 gains last year alone. He’s done it by avoiding 99.9% of all stocks… Only trading this one, [revealed in this video below.]( Now Jeff is helping his 23-year-old son overcome his huge losses in crypto and tech stocks… By using this same method. [Watch how he plans to win back all of his son’s losses with this one ticker revealed here.]( [image]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. 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