Red hot Ark ETF (ARKK) has cooled off of late, losing over 30% of its value. Is it about to fall another 30%?

If this pattern is correct, it is possible it does!

ARKK looks to have formed a bearish descending triangle over the past 14-weeks. Currently, it is testing the bottom of this bearish pattern.

If support breaks at (1), the “measured move” suggests ARKK could fall another 30%.

This ETF has been a proxy of the strength or lack of in the tech sector.

How ARKK handles this pattern, should send an important message about tech stocks over the next few weeks!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past