The Technical Traders Weekly Trade Idea – Feb 8

Hey Traders, Chris Vermeulen here with your trader tip of the week. I was on Business First AM with Angela Miles last week and we were looking at the chart for ARKW, a next-generation internet ETF that focuses on innovation and advancements in Cloud Computing, Big Data, the Internet of Things, E-Commerce, Digital Media, and Cryptocurrencies. It was a very exciting chart, being 300% off its March lows. But another chart that did not look as exciting (which is why I like it) is the basing formation in the utility sector ETF XLU. The pattern reminds me of just before the March crash when big money moved into utilities as a defensive play and right before they shot up along with the stock market. Watch my video to learn more.

Click on the image below to watch Chris’s Weekly Trade Idea

https://youtube.com/watch?v=fKz6OFqhElI%3Ffeature%3Doembed

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