SEC ruling on ETFs postponed-denied scenario
Going short around @ $8650-8700
- continuation of the current parabolic growth after market crash is extremely improbable
- there is 90% chance that ETFs will be postponed by SEC to 2019 or denied altogether, reason being that it usually takes a very long time to be approved for ETF, for example, it took 23 years for Gold to get approved.
- 200 MA Daily resistance coming from the top
- RSI showing high overbought levels
- Pitchfork drawn from the top of last candle just before the 2014 final selloff(capitulation move) aligns perfectly with $86000-8700 resistance that we've hit yesterday and believe will act as further resistance
- continuation of the current parabolic growth after market crash is extremely improbable
- there is 90% chance that ETFs will be postponed by SEC to 2019 or denied altogether, reason being that it usually takes a very long time to be approved for ETF, for example, it took 23 years for Gold to get approved.
- 200 MA Daily resistance coming from the top
- RSI showing high overbought levels
- Pitchfork drawn from the top of last candle just before the 2014 final selloff(capitulation move) aligns perfectly with $86000-8700 resistance that we've hit yesterday and believe will act as further resistance
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In the light of this news, the chance of CBOE ETF not getting approved has substantially increased.