The Innovators ETF 
FFTY is being underperforming the 
SPX since February. This ETF is concentrated in growth stocks; so is a good barometer for that sector of the market. I see a volatility contraction pattern (VCP) with lowering volume, classic pattern before a crazy breakout. This breakout could be upward or downward, the thing is to be reactive.
At the moment its relative strength against theSPX haven't indicated anything bullish, and the price is below the 20 day and 50 day MA. I'll be waiting for confirmation. The bullish sign for me is that some tech names have been making good breakouts, like 
CRWD, 
UPWK and 
U. For me these stocks could be the next leaders.
FFTY is being underperforming the SPX since February. This ETF is concentrated in growth stocks; so is a good barometer for that sector of the market. I see a volatility contraction pattern (VCP) with lowering volume, classic pattern before a crazy breakout. This breakout could be upward or downward, the thing is to be reactive. At the moment its relative strength against the
SPX haven't indicated anything bullish, and the price is below the 20 day and 50 day MA. I'll be waiting for confirmation. The bullish sign for me is that some tech names have been making good breakouts, like CRWD, UPWK and U. For me these stocks could be the next leaders.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.