#202610 - priceactiontds - weekly update - nasdaq e-miniMicro E-mini Nasdaq-100 Index FuturesCME_MINI:MNQ1!priceactiontdsGood Evening and I hope you are well. comment: A bit more bearish than for dax. We have room to quickly flush down to 23000 which is the breakout re-test from 2025-02 and it would also fit my calculation for W2. There is the possibility of us moving sideways to up again before another leg down. 24400 should be max though. current market cycle: trading range on the monthly chart - bear trend on the daily chart key levels for next week: 22500 - 25250 bull case: Same as dax. I have nothing for the bulls. Sure they can squeeze again but we are overdue for a big down move W3. Only news can save them. Anything above 25240 means I am dead wrong and bulls turned the market neutral again. Invalidation is below 22500 bear case: Bears need to leave a gap behind and not let the bulls get another pullback. I do think we have to stay below 24600 for my bearish thesis to be correct. W3 should bring us down to 23000ish and W5 to around 22000. Monthly 20ema is around 23400 and that’s also the previous breakout area. So this could also be support. Invalidation is above 25250 short term: Sell the rip market and bears have the best setup for a crash down since 2025-04. Lets. Ducking. Go. medium-long term - Update from 2026-03-15: Same as dax. 50% retracement is the next big target which is 22000. I expect it to get hit over the next weeks.