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Why trouble may loom for stock market if Cathie Wood’s ARK Innovation ETF fails to bounce – MarketWatch

If high-growth funds falter, it could force a test of 3,980-4,000 level for S&P 500 index: analyst

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Cathie Woods ARK Innovation exchange-traded fund is significantly oversold and due for a bounce, but if it doesnt get one the popular fund risks suffering a steeper decline that could spell some trouble for the broader market, says one chart watcher.With the big down day yesterday, ARKK actually violated a trendline that connected some notable lows going back to September, which isnt ideal, said technical analyst Andrew Adams, in a note for Saut Strategy on Wednesday. It nowneeds to recover this…

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