S&P 500 up 2.35% — Market Pulse · Nov 9, 2026

U.S. stocks staged a forceful rebound on Nov. 9. The S&P 500 climbed 173.08 points, or 2.35%, to 7549.94, while the Nasdaq Composite rose 2.74% to 25253.14. Small caps led, with the Russell 2000 up 3.15% to 2840.81, and the Dow added 1104.02 points, or 2.15%, to 52389.75.

Key Takeaways

• S&P 500 closed up 2.35% at 7,549.94.
• Market breadth finished with 422 advancers, 78 decliners, and a 5.410 advance/decline ratio.
• Industrials led sectors at +3.82%, while Energy lagged at +0.52%.
• VIX ended at 19.92 in the latest five-session lookback.
• SPY’s first resistance is 740.14 and first support is 732.63.

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Market Breadth: Broad rebound restores risk appetite, but recent volatility still frames the tape

Metric	Nov 3	Nov 4	Nov 5	Nov 6	Nov 9
Advance/Decline Ratio	0.609	2.984	0.170	0.585	5.410
Advances	190	376	73	185	422
Declines	312	126	429	316	78
Advancing Volume	50.1%	64.2%	9.3%	47.8%	74.5%
Stocks Near 52-Week Highs	9	60	4	3	17
Stocks Near 52-Week Lows	1	0	2	1	0
% Above 20-Day MA	70.9%	74.1%	64.3%	60.4%	69.3%
% Above 50-Day MA	66.1%	71.9%	62.8%	63.0%	69.7%
% Above 200-Day MA	63.9%	68.9%	61.0%	58.4%	66.3%

Participation was strong and much broader than the prior two sessions. Advancers beat decliners 422 to 78, for an advance decline ratio of 5.41, and advancing volume reached 74.5%. That compares with 185 advancers versus 316 decliners on Nov. 6 and just 73 advancers versus 429 decliners on Nov. 5. Trend participation also improved, with 69.32% of stocks above their 20 day moving average, 69.72% above the 50 day, and 66.33% above the 200 day.

Explore the full dashboard: Market breadth.

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Market Performance: Major Indexes

Index	Close	Change	% Change
S&P 500	7,549.94	173.08	+2.35%
Dow Jones Industrial Average	52,389.75	1,104.02	+2.15%
Nasdaq Composite	25,253.14	673.71	+2.74%
Russell 2000	2,840.81	86.70	+3.15%

Five-session context:

Index	Nov 3	Nov 4	Nov 5	Nov 6	Nov 9
S&P 500	+0.36%	+1.58%	-4.36%	+0.31%	+2.35%
Dow Jones Industrial Average	-0.38%	+3.03%	-3.44%	-0.46%	+2.15%
Nasdaq Composite	+0.83%	+1.44%	-5.52%	+1.09%	+2.74%
Russell 2000	+0.23%	+1.58%	-4.45%	+0.89%	+3.15%

All four major indexes posted solid gains, but leadership tilted toward higher beta areas. The Russell 2000’s 3.15% advance outpaced the Nasdaq Composite at 2.74%, the S&P 500 at 2.35%, and the Dow at 2.15%. Even with the rebound, the five session path still shows how choppy trading has been. The S&P 500 fell 4.36% on Nov. 5 before recovering over the next two sessions, while the Nasdaq dropped 5.52% that day and has since retraced much of the move.

Explore the full dashboard: Market snapshot.

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Sector View: Leaders and Laggards

• Leaders: Industrials (XLI +3.82%), Technology (XLK +3.73%), Consumer Discretionary (XLY +2.92%), Communication Services (XLC +2.45%), Health Care (XLV +1.91%)
• Laggards: Energy (XLE +0.52%), Consumer Staples (XLP +0.90%), Real Estate (XLRE +1.45%), Financials (XLF +1.45%), Utilities (XLU +1.53%)

Cyclicals and growth areas led the move. Industrials topped the sector leaderboard, with XLI up 3.82%, followed by Technology, XLK, up 3.73%, and Consumer Discretionary, XLY, up 2.92%. At the other end, Energy lagged with XLE up just 0.52%, while Consumer Staples gained 0.90% and Real Estate and Financials each rose 1.45%. The spread between XLI and XLE points to a clear pro risk tone for the session.

Explore the full dashboard: Sector performance.

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Volatility: VIX and ETF Implied Volatility

Metric	Nov 3	Nov 4	Nov 5	Nov 6	Nov 9
VIX Level	20.83	16.61	28.18	25.64	19.92

• SPY IV: 16.15% (Normal)
• QQQ IV: 26.80% (Elevated)
• IWM IV: 18.97% (Normal)
• DIA IV: 16.35% (Normal)

Volatility cooled sharply. The VIX closed at 19.92 after finishing at 25.64 on Nov. 6 and 28.18 on Nov. 5. Over the five session span, that marks a 22.31% daily drop on Nov. 9 after a 69.66% jump on Nov. 5. In options, SPY average implied volatility was 16.15%, IWM was 18.97%, and DIA was 16.35%, all labeled Normal, while QQQ stayed Elevated at 26.80%.

Explore the full dashboard: Volatility.

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Headlines Moving Markets

The backdrop still includes firmer growth data. The advance estimate showed real GDP rose at a 3.4% annual rate in the third quarter, up from 2.2% in the second quarter. September personal income increased 0.2%, disposable personal income rose 0.2%, and personal consumption expenditures climbed 0.5%. In positioning data, S&P 500 options whale activity leaned bullish, with $254839501 in call premium versus $174389078 in put premium, a 1.46 call put ratio.

• GDP (Advance Estimate), 3rd Quarter 2026
• Personal Income and Outlays, September 2026
• Personal Income and Outlays, July 2026
• Personal Income and Outlays, June 2026
• Personal Income and Outlays, May 2026
• Personal Income and Outlays, April 2026
• Federal Reserve Board announces approval of two applications by Mutual Federal Bancorp, MHC, and MFB Bancorp, Inc.
• Federal Reserve issues FOMC statement
• Minutes of the Federal Open Market Committee, September 15-16, 2026
• Skydance outlines its $6 billion in planned cost savings. Here’s the breakdown
• Boeing to cut 5% of commercial airplane workforce as production increase is slower than expected
• Honda to invest $3 billion in new vehicle assembly plant in Ohio

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Technical Snapshot (SPY)

Level	Nov 3	Nov 4	Nov 5	Nov 6	Nov 9
20-day SMA	769.33	768.09	767.57	765.55	763.39
50-day SMA	766.53	766.39	766.44	765.83	765.15
200-day SMA	726.27	726.62	727.09	727.35	727.61

Near-term pivot structure, based on 2026-11-06:

• Resistance: 740.14 (R1), then 744.88 (R2)
• Pivot: 737.37
• Support: 732.63 (S1), then 729.87 (S2)

SPY’s reference pivot sits at 737.37, with resistance at 740.14 and 744.88, and support at 732.63 and 729.87. The moving average setup remains mixed. SPY’s 20 day SMA is 763.39 and the 50 day SMA is 765.15, both above the latest pivot reference, while the 200 day SMA is 727.61. Across the market, participation above key moving averages improved materially from Nov. 6, which supports the rebound, but recent swings suggest traders may still want confirmation.

Explore the full dashboard: Support & Resistance levels.

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What to Watch Next

• Whether the S&P 500 can build on Monday’s 2.35% gain after last week’s 4.36% drop on Nov. 5.
• Breadth follow through, especially if advancers stay well above decliners after the 422 to 78 reading.
• VIX behavior near 19.92 after the quick retreat from 28.18.
• SPY versus pivot levels at 740.14 and 744.88, with support at 732.63 and 729.87.
• QQQ implied volatility remains Elevated at 26.80%, even as SPY sits at 16.15%.
• Institutional crosscurrents: options whales were bullish overall, while stock whale sentiment was bearish with a 0.83 buy sell ratio.

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Bottom Line

Monday’s rally repaired a good part of the technical and sentiment damage from last week’s selloff. Strong breadth, leadership from small caps and technology, and a drop in the VIX all point to better risk appetite. Still, the five session profile remains volatile, so the next question is whether this rebound broadens and holds.

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Market Pulse provides daily analysis of S&P 500 market breadth, sector rotation, and volatility signals to help investors understand what’s happening beneath the surface. Data sourced from our real-time market breadth collectors. For personalized planning, explore our retirement calculators, investment tools, and FIRE planning resources.

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