2025-07-21 - priceactiontds - daily update - nasdaqMicro E-mini Nasdaq-100 Index FuturesCME_MINI:MNQ1!priceactiontdsGood Evening and I hope you are well. comment: Melt-up and bears failed to close below last weeks high, which means we are still max bullish. Until bears print below 23200, longs just make more sense than trying to look for shorts. current market cycle: bull trend key levels: 23000 - 23500 bull case: Bulls remain in full control until we get a daily close below 22700. First target for the bears is a lower low, which means getting below today’s spike 23225. That would be a start but likely means sideways rather than more selling. If we stay above 23200, we can continue to print many more new highs. Invalidation is below 22700. bear case: Bears obviously are not doing enough. They need to print 23200 and that would only be the first small start. It would open the possibility for a test of 23000 but since we are barely printing any red bars and have not broken any bull trend line so far, it’s stupid to look for shorts. Wait for much bigger selling pressure. Invalidation is above 23500. short term: Neutral but if anything I am looking for long scalps against support like the 1h 20ema. 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 US open. Just a quick melt-up but I missed it.