SEC ruling on ETFs postponed-denied scenario
Updated
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
Note
Note
Note
In the light of this news, the chance of CBOE ETF not getting approved has substantially increased.
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