Futures Outlook Traders Give Key Levels To Watch For NASDAQ 100

On CNBC's "Futures Outlook," Brian Stutland of Equity Armor said he's watching the June futures NASDAQ 100 contract because that's going to be the active futures contract next week. If it manages to close above the 12,800 level, that would be a key reversal signal for him and NASDAQ 100 could move significantly higher. If it fails to close above that level, it could drop to 12,100 or even further to 11,200, explained Stutland. He said this is a great area to put a hedge on because the market is either going significantly higher or significantly lower.

Bill Baruch of Blue Line Futures agrees with Stutland's technical levels, but he thinks this is first the Treasury story and second a tech story because the increase in interest rates forces investors to make a choice. They can either take a risk-free return or overpriced tech stocks, said Baruch. If the yield curve flattens and comes back in, that is bullish for tech, but we have to close above the key technical levels, said Baruch.