MNQ - Range-Bound at 25,385 | Support Below, Resistance AboveMicro E-mini Nasdaq-100 Index FuturesCME_MINI_DL:MNQ1!officialjackofalltradesExecutive Summary Micro E-mini Nasdaq 100 futures (MNQ1!) trading at 25,385 in a range-bound consolidation on the 4H timeframe. Price rejected from the 25,900-26,000 resistance zone and is now testing lower levels. Multiple support zones below at 25,100-25,200 and 24,850-24,950. Watch for breakout direction from this consolidation range. BIAS: NEUTRAL - Range-Bound Consolidation Current Market Data Current: 25,385.25 (-0.28%) Day's Range: 25,265.25 - 25,803.50 52-Week: 16,452.50 - 26,399.50 Open Interest: 94.90K Front Month: MNQH2026 Performance: 1W: -1.87% | 1M: -1.03% | 3M: +1.12% 6M: +10.52% | YTD: -0.29% | 1Y: +10.79% Key Market Context Mag 7 outperformed S&P 500 for 3rd straight year MAG/SPX ratio showing smallest yearly rise in 3 years Equal-weighted S&P 500 starting to outperform January Barometer: As January goes, so goes the year (84% hit rate) Santa Rally sputtering - weak footing into 2026 VIX subdued but could spike in Jan-Feb Fed expected to pause at Jan 27-28 meeting (83% odds) Technical Structure - 4H Range-Bound Consolidation: Price consolidating between support and resistance Rejected from 25,900-26,000 resistance zone Testing lower support zones Watch for breakout direction Key Levels: Resistance: 25,800 - Day's high / immediate resistance 25,900 - 26,000 - Resistance zone (pink box) 26,260 - Upper resistance (red line) 26,399.50 - 52-WEEK HIGH Support Zones (Purple): 25,100 - 25,200 - Upper support zone 24,850 - 24,950 - Lower support zone 24,850 - Major support (red line at bottom) SCENARIO ANALYSIS BULLISH: Break Above Resistance Trigger: Break above 26,000 with volume Targets: 26,260 → 26,399 (52-week high) → 26,500+ BEARISH: Test Support Zones Price tests 25,100-25,200 first support If fails, drops to 24,850-24,950 Break below 24,850 = bearish continuation NEUTRAL: Range Continuation Price oscillates between 24,850 - 26,000 Wait for breakout confirmation Trade the range until breakout My Assessment Range-bound consolidation with clear support and resistance zones. Mag 7 momentum slowing, equal-weighted index gaining ground. Santa Rally weak - cautious into January. Watch support zones for bounce or breakdown. Strategy: Watch for bounce at 25,100-25,200 support Long above 26,000 breakout → Target 26,260, 26,400 Short below 24,850 breakdown → Target 24,500, 24,000 Trade the range until breakout confirms Comment your thoughts below!