$ARKK rallied out of a “NoGo” trend that had held it down since early August.
After a series of lower lows and lower highs it set an ultimate low at the end of October. Since then it has climbed off the low and GoNoGo Oscillator burst back into positive territory on heavy volume. GoNoGo Trend painted a couple of amber “Go Fish” bars before identifying a new “Go” trend. As price butts up against horizontal resistance GoNoGo Trend has struggled to maintain “Go” bars and has painted another “Go Fish” bar showing the markets uncertainty. If GoNoGo Oscillator can stay at or above the zero line we will expect price to try to consolidate at this level and mount an attack on an new higher high.
