Buy QQQ on the Bounce off Weekly Trend Channel Support

Trade Idea:

Buy QQQ with a stop loss just below 160 (near 158) and a target of 170.

This is a Risk Reward of 2 to 1 since you risk 4 dollars/share and have a potential to gain 8 dollars/share.

Earnings are coming up so this is quite a risky play. I still think the indexes will move higher in the next week though.

I blog almost everyday here: bigfryfinancialmarkets.com

Please like this post to help spread the word :) Have a great Sunday!