10.27.2023 NQ Outlook
If the DXY (US Dollar Index) makes its descent lower, we observe a corresponding upward trend in indices. Presently, we find ourselves situated within a retracement and reversal zone marked by a bearish breaker on the Daily (1D) timeframe. Having successfully tapped into substantial sell-side liquidity over the past week, it is reasonable to anticipate an uptick in buying activity in the week ahead. This mirrors a similar notion I had regarding the DXY—it doesn't imply a complete correction, but rather lays the groundwork for lower prices in the weeks to come. This dynamic sets the stage for a potentially intriguing market scenario.
Note
Targets this week- 14887.75
- 14933.25
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.