Nasdaq Futures Today: The Order Flow Behind Today’s Moves

For InvestingLive.com Traders and Investors
Date: January 9, 2026
Session: Pre-Market / Early US Session
Asset: Nasdaq-100 Futures (NQ)Nasdaq Futures Today: From Apparent Weakness to Structural StrengthEarlier in the session, Nasdaq futures appeared vulnerable. Price briefly pushed below recent value, creating the impression that a bearish breakdown might be developing. That initial read, however, proved misleading.While the headline chart now shows a straightforward rally, the more important story sits beneath the surface. Order flow revealed a sequence of events that pointed to institutional defense, ineffective selling, and a gradual transition from rotational trade into a developing trend.This shift did not happen suddenly. It unfolded step by step, and understanding that process matters for positioning and risk management.1. The Turning Point in Nasdaq So Far Today: A Failed Test Near 25,650The most important moment of the session came during the dip below yesterday’s value area.Price moved under the 25,660 zone and appeared set to test the well-advertised liquidity level near 25,650. That test never happened.Instead, selling pressure was absorbed above the level. Buyers stepped in early, preventing price from completing the expected downside auction.In order flow terms, this is a meaningful signal. When price approaches an obvious downside target and fails to trade there, it often reflects impatient demand. Strong participants were not waiting for cheaper prices. They were willing to transact earlier than expected.That behavior left late sellers exposed and set the stage for a reversal in control.2. Nasdaq Bulls Reclaiming Control: VWAP and Value Area HighFollowing the failed downside attempt, market behavior shifted decisively.The move back through VWAP was not a slow grind. It was supported by expanding volume, consistent with short covering layered on top of fresh directional buying.The more important confirmation came with the reclaim of 25,698, yesterday’s Value Area High and a key reference throughout the session.From an order flow perspective, this marked a clear change in narrative.Prior resistance transitioned into supportSelling attempts above that level lost effectivenessValue stopped rotating lower and began migrating higherAt that point, the market moved away from balance and into continuation.3. The Current Phase in Nasdaq Futures: Controlled, Stair-Step ContinuationBefore we dive into what is happening on Nasdaq futures today, let’s look at the 4 hr chart within the last weeks, for an overview of where price is at.After the initial squeeze higher, Nasdaq futures transitioned into a healthier structure.Rather than accelerating vertically, price has been advancing in a measured, stair-step fashion. On lower timeframes, pullbacks have been shallow and quickly absorbed. Sellers remain active, but their participation has not resulted in sustained downside progress.This type of ineffective selling is commonly seen in durable trends. Importantly, value has continued to build higher alongside price, suggesting acceptance of higher prices rather than rejection.This is not emotional momentum. It is controlled acceptance.Key Levels and Forward Scenarios for Nasdaq Futures TodayNasdaq futures are now pressing through the 25,750 area and approaching a meaningful cluster of overhead references.Primary Upside Magnet:
25,780 to 25,790
This zone includes a prior Point of Control and a key structural reference from earlier in the week.What matters from here is behavior, not direction alone. Strong trends often pause or consolidate near composite levels. The focus shifts to whether selling pressure becomes effective or continues to be absorbed.Bullish structure remains intact while:Price holds above the prior breakout zone near 25,720Pullbacks remain shallow and value continues to migrate higherA sustained acceptance back below those levels would suggest a return to balance. At this stage, the evidence does not support that outcome.Nasdaq Trader TakeawayTradersand investors, while the above looks at today’s order flow and price action, keep in mind the The Big Picture: Experts Disagree on the “Jobs Report”
The market is preparing for the release of the Non-Farm Payrolls (NFP) report, which tells us how many jobs the US economy added last month. Right now, there is no clear agreement—different banks are seeing different things.The Optimists (Bullish): Some experts believe the job market is stronger than ever. Jefferies is currently leading with the highest expectations for job growth, which is detailed in Who’s got the most bullish NFP forecast this time around?. Similarly, JP Morgan believes hiring is actually speeding up, arguing that the momentum is still there even as the economy settles down, as explained in Non-farm payrolls seen accelerating as unemployment rate holds steady – JP Morgan.The Cautious Observers: On the other hand, Citi expects decent job creation but warns that the unemployment rate might slowly rise. They see this as a sign of the labor market “balancing out” rather than crashing. You can read more about their view in US payrolls to stay supported but unemployment rate seen increasing further – Citi.What Else Is Driving Stocks? (AI & Energy)
Even with all this focus on economic data (“macro noise”), stock market investors are increasingly excited about long-term growth themes like Artificial Intelligence and energy.The Hot Story: A prime example is the nuclear energy company Oklo. Its stock surged because big tech companies need massive amounts of power for their AI data centers. This trend was highlighted when Oklo jumps 20% in pre-market as Meta unveils nuclear deals to power data centers, showing that stories about future technology often move stock prices more than standard economic reports.Today’s Nasdaq rally was not random and not purely technical. It was built on a failed downside auction, early buyer intervention, and a clean reclaim of key value levels.As long as selling pressure continues to be absorbed and price holds above reclaimed value, the directional bias remains bullish. That said, the easiest portion of the move has likely passed. New positioning near resistance requires patience, selectivity, and confirmation rather than urgency.This analysis is based on proprietary order flow and orderFow Intel and is intended as decision support, not financial advice. Trade at your own risk.
This article was written by Itai Levitan at investinglive.com.

🔗 Source