Chart of the Day - Wednesday, December 4, 2024

🏆 Today's Chart of the Day was shared by @DualityResearch.
 

• While Mega-Cap Tech has stolen the spotlight this week, smaller speculative Tech names are also waking up. 
   
• The Ark Innovation ETF ($ARKK) is up +4.9% this week, closing at its highest in 2½ years. The top holdings in $ARKK include $TSLA (14.3%), $COIN (9.6%), $ROKU (8.9%), $RBLX (5.7%), and $PLTR (4.5%).
   
• Last December, $ARKK registered its first 52-week high in nearly three years. Despite building a solid base this year, the fund saw net outflows, suggesting investors have capitulated on their speculative bets from the last bull market.  
   

The Takeaway: $ARKK is trying to establish a new uptrend after flushing out the bag holders.