Checking in on My Tech Trade Idea

As May was wrapping up and June was getting underway, technology stocks provided some great trading opportunities.

From May 24 through last Friday, the tech-laden Nasdaq 100 Index futures contract (NQ) has returned over 6.8%, well outpacing the more general stock indexes such as the S&P 500 Index futures contract (ES) for the same time period.

So, as this past week was getting underway, I presented a trade idea for technology utilizing the NQ contract.

Here’s how the trade shaped up this past week and how I see the index setting up for potentially bigger gains for you.

Nasdaq 100 Index Trade Setup

Here’s how the chart is moving this past week’s initial idea through into the week…

Nasdaq 100 Futures Contract (NQ) Price and Technical Analysis – Source: TradingView

And here’s how I have been seeing the trade shaping up this past week into this weekend…

The Nasdaq 100 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: 12183.75

LIMIT: 13269.75

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


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Keep on trading,

P.S. There is more to trading stocks just with stock market indexes or index futures contracts. You can break out and above indexes by focusing on the top individual stocks – if you get to know how to track them down for gain opportunities beyond the general stock markets.

To learn how to do this directly from me via my Top 5 service, click here!

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

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