$NQ1! Nasdaq Futures. Bounce or bust

We've been here before. This upward channel has been tested, provided support and retested before. Bulls need to defend this channel line, or it could get ugly. Quite a few FAANG stocks had huge rejections at an important smoothed moving average (for me) yesterday.
Bulls have got their work cut out for them.
Let's see what happens.
No position, but if strength doesn't come through a short position looks likely in coming days.