After large moves lower on Friday and Monday, the SPDR S&P 500 ETF Trust (NYSE: SPY) traded up almost 1.5% Tuesday. But the market may still be in trouble.
Cathie Wood-led Ark Investment Management on Monday shed 839 shares, estimated to be worth about $2.9 million, in Amazon.com Inc (NASDAQ: AMZN), a day ahead of its founder Jeff Bezos’ scheduled flight to space.
Amazon shares closed 0.67% lower at $3,549.59 on Monday.
When stocks are trending higher, the bulls are in control. When they're heading lower, it's the bears who are in charge.
The breaking of a correctly drawn uptrend line shows that the bears may be taking control. It could be the start of a new downtrend.
Cathie Wood-led Ark Investment Management on Friday snapped up 225,937 shares, estimated to be about $53.7 million, in Square Inc (NYSE: SQ), ramping up its foray into Bitcoin (CRYPTO: BTC) play as the payment company prepares to build a Bitcoin (CRYPTO: B