2025-06-12 - priceactiontds - daily update - nasdaqMicro E-mini Nasdaq-100 Index FuturesCME_MINI:MNQ1!priceactiontds Good Evening and I hope you are well. comment: Neutral around 21900. 21700 was the lowest I expected and we printed 21716.5. Weekly close around 21900 is the most likely outcome for me. We have no acceptance above 21900 and none below 21800 as well. A trend day tomorrow would surprise me. current market cycle: trading range key levels: 21700 - 22100 bull case: Bulls want to close the week above 21800 to print a green one. They had spikes above 21900 but nothing else. They are still somewhat in control because we are not making meaningful lower lows and are still at the highs but price action is neutral since last week so no side has the clear advantage. Weekly close above 22000 would be a surprise to me. Invalidation is below 21680. bear case: Bears have to close the gap down to 21680 if they want more downside. Until then they have to fade everything above 21900 since that has been profitable for a week now. A weekly close below 21800 would be a decent sell signal going into next week and a clear break of the wedge. Problem for the bears is the same as for bulls on the other side. On the 4h chart we have big tails above and below bars. Market is completely in balance around 21850ish and therefor I expect a weekly close around that price. Invalidation is above 22100. short term: Completely neutral. New high or low would surprise me tomorrow. I expect a choppy session where mean reversion will likely be king. medium-long term - Update from 2024-05-24: Will update this section more after the coming week but in general the thesis is as for dax. Down over the summer and sideways to up into year end. I don’t think the lows for this year are in. trade of the day: Longing 21730 because it was support all week and the obvious trade.