2025-07-23 - priceactiontds - daily update - nasdaqMicro E-mini Nasdaq-100 Index FuturesCME_MINI:MNQ1!priceactiontdsGood Evening and I hope you are well. comment: Very tight channel up from 23142 but only 1 bear bar since then and in the absence of bear bars, we can only assume sideways to up movement. current market cycle: bull trend key levels: 23000 - 24000 bull case: Bulls want to print more higher highs. We are in this bull channel for the whole July now without breaking it and bulls now confirmed the breakout above 23100ish - 3 times. That is the 50% retracement of the last big leg up and very important. A measured move for this leg gives us 24000. Bears have tried with two decent legs to get down to 23000 and failed. I think many will give up on this after hours buying and we can have more meltup into the weekend. Anything bearish would be a big surprise. Invalidation is below 23250ish. bear case: Bears tried and failed again. Everything is bought. 1h close below 23250 would certainly stop the max bullishness but bears are really not doing much. We are almost printing daily new ath. Focus on longing pullbacks until the bull channel is broken. Invalidation is above 24000. short term: Bullish on any pullback until it stops working. medium-long term - Update from 2024-06-29: No change in plans. I expect 20000 to get hit over the next 3 months and maybe 19000 again. trade of the day: Long 23200 has been profitable since Friday.