Nasdaq Technical Analysis for Today and This Week

Published on February 2, 2026

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Crypto is still bearish. Nasdaq declines in Asian session and partially rebounding in the European session. What's next?

Video walkthrough: Key Nasdaq futures levels and why they matter

In today’s video update, Itai Levitan walks through the Nasdaq futures structure using higher-timeframe reference points to explain why short-term rebounds still need to be treated with caution.

The analysis starts with a major pivot low from late December, which continues to act as a structural anchor for the current market phase. From that low, an **anchored VWAP** has been plotted, shown on the chart as a purple line. That anchored VWAP is currently acting as resistance, not support.

This distinction matters. On Friday, price was trading very close to that anchored VWAP from below, and today it remains a key line in the sand. If price were to retrace toward it from below and fail, it would reinforce the idea that sellers still have the upper hand.

One level highlighted in particular is $25,536, which sits just below that anchored VWAP and coincides with a prior structural low. This zone acts as a reference point for assessing the strength of any rebound. If price cannot even retrace toward that area, it suggests sellers remain aggressive and are not allowing buyers much room to rebuild momentum.

Another important reference is a declining red trend line that has acted as support on multiple prior occasions. Despite the recent bounce, that line has **not yet been retested**, which increases the odds that price may still rotate lower to test it before any broader recovery can be trusted.

From an order flow perspective, the video emphasizes that **short-term rebounds do not automatically invalidate bearish control**. While lower timeframes may show temporary strength, broader order flow still suggests sellers are slightly stronger than buyers so far today.

The analysis then shifts to Friday’s session structure. Friday’s **value area low sits near $25,631**, a level that becomes relevant if price continues higher. This is not just another random number. It represents an area where volume previously concentrated, meaning algorithms and larger participants often pay attention there.

For traders, this has practical implications. If price approaches that zone during a rebound, it can be a logical area to **reduce exposure or take partial profits**, as two-way trade and hesitation are common around such levels.

Above that, the video highlights **Friday’s point of control near $25,720**, along with Friday’s VWAP in the same general area. When multiple reference levels cluster together, they form what can be thought of as **decision junctions**, zones where the market often pauses to reassess direction.

Another level discussed is the **first upper standard deviation of the anchored VWAP**, near **$25,900**. This sits well above current price and represents a further junction that would only come into play if buyers prove stronger than currently anticipated.

Finally, the video introduces a modified pitchfork and trend structure to provide context, showing how price has been moving between key reference zones rather than trending freely. This reinforces a core takeaway for traders: price is being guided by **risk management decisions from larger participants**, not by random candle patterns.

What traders can learn from this process

A key educational takeaway from this walkthrough is that markets often move **between levels**, not in straight lines. Professional traders focus less on predicting outcomes and more on understanding **where decisions are likely to be made**.

Anchored VWAPs, value areas, and prior session reference points help identify those decision zones. When price reacts around them, it offers insight into whether buyers or sellers are gaining control, even before that becomes obvious on standard indicators.

Final note

As always, this analysis reflects one informed perspective, not a forecast. Traders should use it as decision support, combine it with their own research, and manage risk accordingly.

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Have a good week and trade at your own risk.

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