ARK Innovation ETF
Investment Thesis
ARKK has crashed 13% in three weeks to an RSI of 27 — its most oversold reading in the past year — while market breadth collapsed to capitulatory levels (20.4% of S&P 500 stocks above their 50-day MA, breadth RSI also at 27), creating a tactical mean-reversion setup for a bounce toward the $70–73 resistance zone. This is a counter-trend trade only — the primary trend remains firmly bearish.
Catalysts to Watch
ARKK declined 13% over three weeks (from ~$74 on March 2 to $64.63 on March 27), pushing RSI(14) to 26.98 and the ARKK/SPY ratio RSI to 29.87 — both signaling deeply oversold extremes simultaneously, while market breadth (% S&P 500 stocks above 50-day MA) collapsed to 20.4% with its own RSI at 27.
Why It May Work
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Timeline
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