The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity.
It's not only Proshares ETF, it was about
9 ETF applications rejected, from 3 aplicants.
Even more, they've done this yesterday, one day early. So it's already almost old news, so the ones that wanted to short had plenty of opportunities yesterday, at way better prices.
I don't expect today anything big on the market.