NQ Daily Outlook | November 18, 2025E-mini Nasdaq-100 FuturesCME_MINI:NQ1!icixbt1H timeframe — 50 EMA (black) for trend, 5 & 10 EMAs (white) for momentum/BOS. Quick read: Still under the 50 EMA after a bounce. Whites are curled down; structure is lower‑high/lower‑low. Two scenarios I’m watching Bearish trend (favored): Stay under the whites and reject the 50 → print BOS down → ride impulse down, sell pops into the whites. Bullish trend: Reclaim the whites, push and hold over the 50 → print BOS up → impulse > shallow correction > continuation higher. Bias: Leaning bearish while we’re below the 50 with no upside BOS. I flip long only after we clear a lower high and hold above the 50 EMA.