Nasdaq futures rebound nearly 280 points. But buyers now face a crucial test

<p>Nasdaq 100 futures | Technical analysis | November 5, 2026</p><p>The overnight recovery has survived renewed selling, with buyers defending higher prices and pushing Nasdaq futures back toward resistance. The next challenge is turning that rebound into a sustained move above 28,476.</p><p>Nasdaq 100 futures have staged an impressive overnight rebound, recovering nearly 280 points from their low of 28,167.75 to reach 28,447. But while the recovery shows encouraging signs beneath the surface, buyers have yet to prove that this is more than a temporary rebound within a broader correction.</p><p>The December 2026 Nasdaq 100 futures contract (NQ) was trading around 28,424 as of 05:37 EST (10:37 UTC) on November 5.</p><p>The most important question now is whether buyers can overcome resistance between 28,447 and 28,476, or whether sellers will use the recovery as another opportunity to regain control.</p><p>Why this Nasdaq rebound deserves attention</p><p>A market can rebound sharply simply because selling pressure temporarily subsides. That does not necessarily mean a lasting bullish reversal has begun.</p><p>What makes this particular recovery interesting is how Nasdaq futures behaved when sellers attempted to push prices lower again.</p><p>After reaching the overnight low near 28,168, futures recovered above 28,300. Then came an important test: prices retreated toward 28,274 but stopped well above their earlier low.</p><p>Buyers subsequently returned, pushing futures back above 28,400.</p><p>That sequence matters because the market did more than bounce. It established a higher low, defended it, and resumed its advance.</p><p>This suggests that sellers were becoming less effective at pushing prices lower, at least during the period examined.</p><p>There is another interesting detail.</p><p>Some advances occurred without particularly strong aggressive buying activity. In other words, prices managed to climb even though buyers were not consistently overwhelming sellers.</p><p>One possible interpretation is that selling pressure was losing effectiveness. Another is that available liquidity was relatively thin, allowing prices to move higher with less buying activity.</p><p>Neither interpretation proves that a lasting reversal is underway. But the combination of a defended higher low and renewed upward progress makes the recovery worth watching.</p><p>Nasdaq futures reclaimed an important average price</p><p>Another constructive development was the move back above the overnight volume-weighted average price (VWAP), near 28,352 at the analysis cutoff.</p><p>VWAP measures the average price paid over a specified period, with greater weight given to prices where more trading occurred.</p><p>For traders, it offers a useful way to assess whether the market is trading above or below an important reference price.</p><p>Recovering above that level suggests the short-term balance has improved for buyers.</p><p>However, the more important test is whether Nasdaq futures can remain above this area when sellers return.</p><p>A market that briefly reclaims an important level but immediately falls back below it has not demonstrated the same strength as one that successfully defends the recovery during a pullback.</p><p>That distinction is particularly relevant now, with resistance immediately overhead.</p><p>The critical resistance area: 28,447 to 28,476</p><p>The recovery reached 28,447 before pulling back modestly.</p><p>That places Nasdaq futures close to an important resistance region extending toward 28,476.</p><p>A move above this zone would be encouraging, but traders should distinguish between briefly trading above resistance and actually establishing support there.</p><p>For example, a breakout followed by a successful retest of the former resistance area would offer stronger evidence of bullish control than an isolated move above 28,476.</p><p>If buyers establish sustained trading above that level, the next potential recovery area lies b