On April 21, 2025, U.S. equity markets exhibited bearish trends with key indices such as the S&P 500 (SPY), Nasdaq 100 (NQ), and the QQQ ETF showing downward pressure. The Nasdaq 100 faced critical support levels at 18,142 and 18,119, with potential declines toward 17,594 if these levels were breached. Market participants noted wide daily ranges in the S&P 500 and VIX volatility index, with the VIX moving approximately 2.97 points and reaching levels around 35 before a gap rejection. The VIX's behavior was seen as pivotal for any market bounce, requiring a decline below 33 to support upward movement. Several large-cap stocks including Tesla (TSLA), Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Netflix (NFLX), UnitedHealth (UNH), Capital One (COF), and Discover Financial Services (DFS) were highlighted, with Tesla, Nvidia, and UnitedHealth meeting short-selling targets, Microsoft remaining under pressure, and Apple contributing to downward market momentum through bear flag patterns. Market breadth was described as weak, with traders favoring short positions and avoiding longs amid the bearish environment. Trading algorithms were noted to be active in the SPY and QQQ, reinforcing the downward trend. Overall, the market was in a short-term balance state but leaning toward further downside action pending additional market-generated information.