Nasdaq Top in? Structural Break and Flag Formation BreakdownUS 100 IndexFX:NAS100ShadowPhantonTraderMarket Overview Looking at the US100 (Nasdaq) 4H chart, we have witnessed a massive, sustained bullish expansion from late March through mid-May, characterized by clean institutional order flow and consecutive Break of Structure (BoS) points to the upside. However, price action over the last week suggests a significant structural transition. Technical Breakdown & Market Structure (SMC) The Bullish Run: Price initially established a bullish trend following a lower-level CHoCH (Change of Character). It moved aggressively higher within a well-defined ascending channel, printing clear BoS levels along the way (noted around the 24,500, 27,000, and 29,400 areas). The Structural Shift (CHoCH): After peaking near the 29,675 level, price failed to sustain its upward momentum and broke aggressively below the previous minor swing low. This printed a clear 4H CHoCH (Change of Character), signaling that the order flow is shifting from bullish to at least short-term bearish/corrective. Current Price Action (Bearish Flag / Channel): Following the CHoCH, price retraced back up to mitigate a premium supply zone/order block near the recent highs, failing to break the swing high. We are now seeing price trade within a descending corrective channel (bearish flag structure). Forward Outlook & Key Levels The current structure indicates that the bulls are losing immediate control, and we are currently in a corrective, bearish distribution phase. Key Resistance: 29,464 – 29,675 (The recent swing high and supply zone where the bearish channel originated). Key Support / Target Zones: * 28,680 (Immediate structural support/liquidity pool). 28,209 (Mid-channel target and key demand area). Trading Bias: Short-term bearish to neutral. I am looking for price to continue respecting the upper boundary of this corrective channel, targeting a sweep of the internal sell-side liquidity down toward the 28,200 region before any potential higher-timeframe bullish reversal can be considered. What is your bias on this? Are you looking for a deeper pullback into a daily demand block, or do you think the bulls will invalidate this CHoCH quickly? Let me know in the comments! #Nasdaq #US100 #SMC #ICT #TechnicalAnalysis #MarketStructure