NQ Flow Report

October 10, 2025

Market Recap

Friday’s Nasdaq futures session opened with a sharp downside move following a week of steady advances. The early session failed to hold above 25,300 and quickly reversed lower as sellers gained control. Once price broke beneath 25,000, momentum accelerated, producing a strong directional trend through the remainder of the day. The session closed near 24,160, completing one of the largest single-day declines of the quarter.

Key Levels & Reactions

Initial resistance at 25,388 from Thursday’s high provided a clear rejection point early in the session. Price then moved decisively below the short-term support zone near 25,100, confirming the shift in control to sellers. As downside pressure expanded, the 24,800 and 24,500 regions offered little defense, and value continued to migrate lower toward 24,160 into the close. This zone now represents an important short-term low heading into next week.

Volatility & Timing

Volatility expanded sharply after 10:00 a.m. ET as selling volume increased and momentum held firm throughout the day. Unlike prior sessions where afternoon rotation balanced intraday trade, Friday maintained one-way pressure from open to close. The pace of the move and sustained lower-high structure indicated strong directional conviction. Volume was notably heavier than average, suggesting institutional participation in the liquidation sequence.

Takeaway of the Day

Friday’s session marked a decisive change in tone after a week of steady strength. The strong rejection from the 25,388 region and complete retracement of the week’s gains confirmed that sellers regained control on the short-term timeframe. The 24,160 area will serve as a key reference point next week for potential stabilization or continuation lower.

Week in Review – October 6 to 10, 2025

The Nasdaq futures began the week with a continuation of the prior uptrend, climbing above 25,300 by midweek and briefly testing the 25,388 region. Momentum was steady through Wednesday and Thursday before reversing sharply on Friday. The weekly chart shows a strong bearish candle that engulfed the previous three weeks’ range, signaling a significant momentum shift.

From a broader perspective, this week represented the first meaningful pullback since mid-August. The sharp decline returned price toward the lower edge of the September consolidation band, suggesting the market may now enter a short-term rebalancing phase. As of Friday’s close, the weekly structure remains long-term bullish, but near-term pressure favors continued testing of lower levels before buyers can reestablish control.

Upcoming High-Impact Events

October 14 – U.S. Retail Sales Report
October 15 – PPI and Industrial Production Data
October 16 – Weekly Jobless Claims
Next major event: October CPI release the following week, a key indicator for short-term rate expectations.