Seeing the Daily Timeframe on NAS100 (and the same on US30), because of the steep angle of this COVID recovery in the market from 03/20/20 til now, the 60° trend seems very steep and unsustainable long-term.
I think that the next pullback of NAS100 (and US30/SPX500) to their respective 50 EMA's on the Daily Timeframe could signal a steep market reversal and sell-off just based on the angle of the trend that we've been seeing.
I could be wrong but something tells me that 60°+ is too steep and at some point, something's gotta give when fundamental factors and technical analysis align next.
I think that the next pullback of NAS100 (and US30/SPX500) to their respective 50 EMA's on the Daily Timeframe could signal a steep market reversal and sell-off just based on the angle of the trend that we've been seeing.
I could be wrong but something tells me that 60°+ is too steep and at some point, something's gotta give when fundamental factors and technical analysis align next.
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