When trying to identify turns in the market and depending on the current market conditions, there are certain issues that are ahead of the broad markets. At this time, ARK Innovation ETF (NYSE:ARKK) is one of them and is Monday's PreMarket Prep Stock of the Day.
ARKK's May Low: It is common knowledge that Cathie Wood’s main fund peaked almost a year before the S&P 500, and its meltdown was a precursor to the rout in the high price to earnings to growth stocks.
