No brakes even after MC replacement and line bleed
 

I have 06 A6 quattro 3.0 and the brakes went out one day out of nowhere, there were no issues at all before and there was plenty of fluid in the resivor. I changed the MC and bled the brakes and still nothing. There is a little pressure on the pedal now but still goes all the way to the floor. When I push the pedal down slowly there is a squishy sound coming from the resivor but if I put my hand over the top instead of the cap the sound goes away. Its still far from a state of drivability. There are no signs of leaking anywhere. Should I bleed the MC again along with the lines and hope for the best? Is there an issue with the ABS or the distribution component? Any help would be greatly appreciated!!