Loading ...Where are Stocks Headed?
A lot of people are thinking the S&P 500 is currently topping after a relentless 12 to 13 year bull market. Looking at the popular ARKK Innovation fund, which is down 50% from its highs, I’d say the bears have a good case.
However, Apple recently broke out of a 15 month upward trending consolidation pattern. It also briefly hit an absurd market capitalization of $3 trillion intraday recently.
So, Is the ARKK Innovation fund leading the way for the general stock market, or is Apple? Should be interesting to find out.
Interesting questions, for sure. ARKK doesn’t represent the general stock market. The S&P 500 is a general representation. ARKK is more of the high tech momemtum stocks including AAPL and the large NASDAQ 100 stocks. My call has been that those high tech, over valued momo stocks are heading lower. The S&P500 and the general market will probably fall as well. Just not as fast or as hard.