$ARKG - Forget Noah, Cathies ARK will keep you afloat!
Prime setup for $ARKG as we hit the midway point of Bloody September, the worst month for returns. We've already seen several pullbacks, and with quad witching coming on Sept 17, we're bound to see some volatility.
I fully expect ARKG to fall a little further as the broader market bleeds, but come the quad witching hour, you'll start to see the tides shifting. Growth stocks are looking ready to launch off, and this fund which reflects not only biotech but also AI (as a lot of biotech companies stand to benefit from advancements in AI such as Googles Alpha Fold) is a prime example of the wave count that's prevalent across the board.
Here we have:
1) W2 golden zone target between 80.50-76.79 (green)
2) Leg Y of W2, A = C equal legs target also matches 78.6% retracement of W2 (arrows)
3) Leg C of Y reaching its 14.6-23.6% fib targets between 76.34-75.34 (yellow)
4) Leg Y reaching its 23.6-38.2% fib targets between 77.63-75.70 (red)
5) Large volume profile node peaking around 76.30
This ETF should be in your growth portfolio, and now is the time to get your money ready. Remember, these funds have a 5 year time horizon. Ride the wave!
I fully expect ARKG to fall a little further as the broader market bleeds, but come the quad witching hour, you'll start to see the tides shifting. Growth stocks are looking ready to launch off, and this fund which reflects not only biotech but also AI (as a lot of biotech companies stand to benefit from advancements in AI such as Googles Alpha Fold) is a prime example of the wave count that's prevalent across the board.
Here we have:
1) W2 golden zone target between 80.50-76.79 (green)
2) Leg Y of W2, A = C equal legs target also matches 78.6% retracement of W2 (arrows)
3) Leg C of Y reaching its 14.6-23.6% fib targets between 76.34-75.34 (yellow)
4) Leg Y reaching its 23.6-38.2% fib targets between 77.63-75.70 (red)
5) Large volume profile node peaking around 76.30
This ETF should be in your growth portfolio, and now is the time to get your money ready. Remember, these funds have a 5 year time horizon. Ride the wave!
