Move the oven rack to the middle position and preheat the oven to 350 degrees F.
Line 2 cookie sheets with parchment paper or silicone baking mat, and set aside.
Whisk together flour, cocoa powder, salt, baking powder, and baking soda in a small bowl.
In the bowl of stand mixer fitted with paddle attachment, beat butter and sugar together on medium speed until lighter in color and fluffy, about 2-3 minutes.
Beat in egg, vanilla extract, and almond extract until combined.
Add flour mixture to mixer bowl, and pulse on lowest setting until flour is combined and no flour streaks remain about 30-60 seconds.
Shape dough into 1-inch balls and place on prepared cookie sheets about 2 ½ inches apart.
Press your thumb about ⅓ of the way down into the center of each dough ball.
MAKE FROSTING:
In a small saucepan over medium heat, add sweetened condensed milk and chocolate chips and frequently stir until melted.
Remove from heat and stir in maraschino cherry juice.
BAKE AND COOL COOKIES:
Spoon frosting into the thumbprint of each dough ball, and top with a cherry.
Bake for 10-11 minutes.
Let cookies cool on cookie sheets for 20 minutes, and then transfer cookies to a wire rack to cool completely for another 40 minutes.