Nasdaq could break down soon based on this leading indicator for growth stocks [Video]

Ming Jong Tey Independent Analyst

Nasdaq 100 could soon break below the support formed during October and November according to this leading indicator for growth stocks — ARKK ETF. Watch the video below to find out the why ARKK is the go to leading indicator to predict the Nasdaq movement based on the Wyckoff method.

The bullish setup vs. the bearish setup is 53 to 581 from the screenshot of my stock screener below.

The inflection point showed up last Tuesday reacting the CPI, which was the perfect short selling entry. After several down days, S&P 500 is short-term oversold and could attempt to rally up. Traders could seek opportunities to sell on the rally for swing trading to the downside.

Author

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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