While the US stock markets are not completely and fully in a bull market, there are trails and paths for profits that I’m discovering right now.
All it takes to get past the under and over brush of weeds is to hunker down and stick to my tried and true chart analysis to find these paths for profits.
This is the case for the technology stocks that are embedded inside the Nasdaq 100 Index futures contract (NQ).
This index and its contract have generated some nice recent gains, including the run from May 24 through to now of 7.57% in price alone.
And now, that path is revealing a buy zone for the contract that I am sharing with you today.
The Nasdaq 100 Trade Setup
Here’s how the chart is showing the path for a potential nice gain from the leading technology stocks embedded in the Nasdaq 100 Index futures contract (NQ)…
And here’s how I see the path for gains revealing itself this week…
The Nasdaq 100 Index futures contract (NQ) one hour time frame is in the buy zone, in an up trend, making higher highs and higher lows.
Entry: Counter trend line break bullish in the buy zone.
Stop: 12,183.75
Limit: 13,269.75
As long as the market stays above the up trend line, it will be a good idea to turn to
the five minute time frame and look for Tunnel Trader long / Destination Trader long
ideas towards the one hour up Fibonacci level.
The Bottom Line
For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.
I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.
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Keep on trading,
P.S. While technology stocks are showing a potential path for profits, there are also alternative assets that I see proving trading opportunities for gains.
Digital currencies are also setting up profitable trades that could provide an alternative income source for traders armed with the right information. And this could even set up a nice side job (gig) for you in the process.
I continue to provide this information in my War Room research service, which you can learn more about here.
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