The EMD E-mini S&P MidCap 400 Futures are currently experiencing a broad-based pullback across all timeframes. Price action is below the key NTZ/F0% levels on the weekly, monthly, and yearly session fib grids, confirming a downward bias. Both short-term and intermediate-term swing pivot trends are in a clear downtrend, with the most recent pivots showing a lower high and a lower low structure. Resistance is stacked above at 3534.9 and 3523.1, while support is found at 3149 and 3119.9, with a deeper level at 2981.5. Momentum is slow, and the recent weekly bars are of medium size, indicating a controlled but persistent move lower rather than a sharp selloff. The 5- and 10-week moving averages have turned down, reinforcing the short- and intermediate-term bearish tone, while the longer-term 20-, 55-, 100-, and 200-week moving averages remain in uptrends, suggesting that the broader bull market structure is still intact for now. Recent trade signals have all triggered short entries, aligning with the prevailing downtrend in the short and intermediate term. The market appears to be in a corrective phase within a larger uptrend, with the potential for further downside if support levels fail. The environment is characterized by retracement and consolidation, with no signs yet of a strong reversal or breakout. The overall technical landscape suggests a cautious stance, with the market at a key inflection point between continued correction and possible stabilization.