NQ Chart Review, Is Smart Money Targeting Monthly Discount?E-mini Nasdaq-100 Futures (Jun 2026)CME_MINI:NQM2026propfirmwiseHigher Timeframe Context NQ has now shifted from a strong bullish expansion into a clear bearish delivery phase. - 2 stages of SMT formed with YM at the highs - Trendline liquidity was taken before the reversal - Daily SIBI is currently being respected - Price delivered ERL to IRL, external liquidity into internal liquidity 👉 The higher timeframe narrative now favors seeking lower liquidity rather than immediate continuation higher. What Happened? The rally into the highs showed several warning signs before the breakdown. - Multiple bearish SMT divergences formed with YM - Stop hunt engineered above short-term highs - H1 Orderblock capped the retracement - Aggressive displacement lower followed - Sell-side liquidity was delivered into This is classic distribution behavior often seen before larger corrective moves. Current Outlook For now, I remain cautious on bullish continuation. As long as price remains below the H1 Orderblock and Daily SIBI: - Bearish orderflow remains intact - Retracements into premium may provide selling opportunities - Monthly discount zone remains a potential draw on liquidity The key question now is whether this is just a pullback, or the start of a deeper repricing into the Monthly BISI.