Now what is the best opportunity to trade for short term for 1 hour?

Best Opportunity for Short-Term Trading in the Next Hour

1. Technical Indicators: The Nasdaq 100 ETF (QQQ) is currently forming a rising wedge pattern, which is a bullish technical pattern. This suggests that the price may continue to rise in the short term.
2. Market Sentiment: The market sentiment is positive, with dip buyers returning and optimism among investors. This indicates that the Nasdaq 100 is likely to experience upward pressure in the coming hours.
3. Support and Resistance Levels: Key support for the Nasdaq 100 is at the $19,750 level, while resistance is at $20,500. The current price is closer to the support level, which could act as a potential breakout point.
4. Economic Data: The upcoming earnings reports from tech giants like Alphabet, Microsoft, Meta, Amazon, and Apple could provide a positive catalyst for the Nasdaq 100. This is because strong tech gains are expected to fuel a sustained break above the rising wedge pattern.
5. Fed Policy: The Federal Reserve's policy is a significant factor influencing the Nasdaq 100. If the Fed appears dovish or non-committal, it could lead to a pump in stocks, benefiting the Nasdaq 100.

Given these points, the best opportunity for short-term trading in the next hour would be to go long on the Nasdaq 100, taking advantage of the positive technical indicators, market sentiment, and potential catalysts such as earnings reports and Fed policy.