# The S&P clings to its 200-day while the Nasdaq 100 falls below it

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Last updated: Nov 7, 2026, 10:40 AM ET

Spaghetti saturday · Published Nov 7, 2026, 10:40 AM ET

> The S&P 500 closed the week at 7,376.86, about 0.7% above its 200-day average, while the Nasdaq 100 finished about 3.6% below its own. Thursday's 7,350 low is the S&P line that Tuesday's CPI report tests first.

## In short

- The S&P 500 closed at 7,376.86, down 2.68% on the week, just above Thursday's 7,350 low and its 200-day average at 7,325, with the broken Oct 30 low at 7,528 overhead.
- The Nasdaq 100 lagged with a 4.91% weekly drop to 26,989.99, below its 200-day average at 27,984 and parked on the 27,000 round number.
- AppLovin's 71.21% weekly jump and AMD's 11.05% slide put both on the board; the pivot that matters most is the S&P's 7,350, Thursday's low, with CPI due Tuesday at 8:30 AM ET.

## Key numbers

- SPX: 7,376.86 (−2.68% wk)
- SPX PIVOT: 7,350 (Thursday's low)
- NDX: 26,989.99 (−4.91% wk)
- NDX PIVOT: 27,000 (Round number, heavy puts)
- APP: 391.22 (+71.21% wk)
- APP PIVOT: 352.00 (Bottom of the August gap)
- AMD: 449.04 (−11.05% wk)
- AMD PIVOT: 450.00 (Round number, heavy puts)

## Key levels

### SPX (S&P 500), last 7,376.86

- 7,715.57 resistance: Nov 4 post-election high, just above the 50-day average at 7,679 and the 20-day at 7,658
- 7,527.56 resistance: Oct 30 low, the floor that gave way Thursday, with heavy open interest at the 7,500 strike
- 7,350.35 pivot: Thursday's low; Friday held above it and closed about 27 points over it
- 7,325.05 support: 200-day average
- 7,200 support: Round number with heavy put open interest

Above: A hold above 7,350 keeps the 200-day intact and puts the broken 7,528 floor back in play.
Below: A close below 7,350 and the 200-day near 7,325 puts 7,200, a round number with heavy put open interest, in play.

### NDX (Nasdaq 100), last 26,989.99

- 28,713.45 resistance: Bottom of the Oct 30 gap, still open up to 29,257
- 27,983.89 resistance: 200-day average, lost Thursday, with Thursday's open gap from 28,078 to 28,276 just above
- 27,000 pivot: Round number with the heaviest put open interest near price; Friday closed 10 points under it
- 26,606.43 support: Thursday's low

Above: A close back above 27,000 puts the 200-day near 27,984 and Thursday's gap back in play.
Below: A close under Thursday's 26,606 low would leave the index below every level on this three-month chart.

### APP (AppLovin), last 391.22

- 416.09 resistance: Top of the Aug 6 gap, with the 200-day average at 409 just under it
- 400.00 resistance: Round number with the most call open interest; Friday's high was 398
- 352.00 pivot: Bottom of the Aug 6 gap; Friday's low at 348.69 dipped under it and recovered
- 338.88 support: Top of this week's post-earnings gap, open down to 275.48
- 275.48 support: Bottom of the post-earnings gap

Above: Holding above 352 keeps the stock inside the August gap, with 400 and the gap top at 416 the next tests.
Below: A close below 352 puts the top of this week's earnings gap at 338.88 in play.

### AMD (Advanced Micro Devices), last 449.04

- 500.00 resistance: Round number with heavy call and put open interest, under the Oct 30 gap from 520.40 to 560.57
- 476.50 resistance: Top of Thursday's gap, open down to 456.20
- 450.00 pivot: Round number with heavy put open interest; Friday closed 96 cents under it
- 415.98 support: 200-day average, which Thursday's close broke and Friday won back
- 402.10 support: Thursday's low, on top of the May gap that ends at 402.04 and the 400 strike, the heaviest put open interest

Above: A close above 450 puts Thursday's gap and its 476.50 top in play.
Below: A close below 450 leaves the 200-day near 416 and Thursday's 402 low as the levels with history.

The charts broke on Thursday. The S&P 500 fell 4.36% that day and finished the week down 2.68% at 7,376.86, holding just above Thursday's low and its 200-day average. The Nasdaq 100 fell 6.36% on Thursday and 4.91% for the week to 26,989.99, and unlike the S&P it closed below its 200-day average on both Thursday and Friday, the first closes under it since at least April.

## The S&P 500

*Chart: SPX S&P 500 daily candles Aug 6 to Nov 6, 2026, with 20, 50 and 200-day averages. Levels: resistance 7,715.57 and 7,527.56, pivot 7,350.35, support 7,325.05 and 7,200. Friday close 7,376.86. The S&P sits about 27 points above Thursday's low and about 0.7% above its 200-day.*

Thursday's drop took the index through the Oct 30 low at 7,527.56, the floor the last two weeks had rested on, and Friday's small bounce stayed inside Thursday's range with a high of 7,444.20. Price is now about 6.0% below the Oct 6 high at 7,844.52 and under both the 20-day average at 7,658 and the 50-day at 7,679, and the 20-day has started to roll over. The pivot is 7,350.35, Thursday's low, with the 200-day at 7,325.05 just under it. Above, 7,528 is the first broken floor to win back, and Wednesday's post-election high at 7,715.57 caps the shorter averages. Below the 200-day, 7,200 is the next round number with heavy put open interest.

## The Nasdaq 100

*Chart: NDX Nasdaq 100 daily candles Aug 6 to Nov 6, 2026, with 20, 50 and 200-day averages. Levels: resistance 28,713.45 and 27,983.89, pivot 27,000, support 26,606.43. Open gaps 28,078 to 28,276 and 28,713 to 29,257 shaded. Friday close 26,989.99. Tech closed under its 200-day with two open gaps stacked above it.*

Tech did the damage. The Nasdaq 100 lost 4.91% on the week against 2.68% for the S&P and is about 13.9% below its Oct 6 high at 31,361. Thursday's open left a gap from 28,078 to 28,276 that Friday never reached, just above the 200-day average at 27,984, and the Oct 30 gap from 28,713 to 29,257 is still open above that. The pivot is 27,000, a round number with the heaviest put open interest near the price, and Friday closed 10 points under it. Thursday's low at 26,606.43 is the only level with history below.

## AppLovin after its earnings gap

*Chart: APP AppLovin daily candles Aug 6 to Nov 6, 2026, with 20, 50 and 200-day averages. Levels: resistance 416.09 and 400.00, pivot 352.00, support 338.88 and 275.48. Open gaps 275.48 to 338.88 and 352.00 to 416.09 shaded. Friday close 391.22. AppLovin gapped back into August's gap and closed just under 400.*

AppLovin made the board with a 71.21% weekly gain after it beat third-quarter estimates on Wednesday and guided fourth-quarter revenue to $2.37 billion to $2.40 billion, above the roughly $2.25 billion the street expected. The stock rose 31.04% on Thursday and 9.86% on Friday to 391.22. Thursday's open left a gap from 275.48 to 338.88 below, and the rally ran straight into the gap the stock left on Aug 6, from 352.00 to 416.09. The pivot is 352.00, the bottom of that August gap, which Friday's low at 348.69 dipped under before the close recovered. Above, 400 has the most call open interest and Friday's high stopped at 398, and the top of the August gap at 416.09 sits just over the 200-day average at 409.

## AMD after the chip washout

*Chart: AMD Advanced Micro Devices daily candles Aug 6 to Nov 6, 2026, with 20, 50 and 200-day averages. Levels: resistance 500.00 and 476.50, pivot 450.00, support 415.98 and 402.10. Open gaps 456.20 to 476.50 and 520.40 to 560.57 shaded. Friday close 449.04. AMD bounced 11% off Thursday's low and closed right on 450.*

AMD made the board as the sharpest swing in Thursday's chip selloff, which posts tied to fears of tighter AI rules after the Democratic sweep. It fell 17.26% on Thursday to close under its 200-day average, then rose 11.04% on Friday to 449.04, ending the week down 11.05% and about 31.8% below its Oct 6 high. Two gaps sit overhead: Thursday's, from 456.20 to 476.50, and Oct 30's, from 520.40 to 560.57, with 500 between them. The pivot is 450, a round number with heavy put open interest, 96 cents above Friday's close. Below, the 200-day at 415.98 and Thursday's 402.10 low, right on top of the May gap and the 400 strike with the heaviest put open interest, are the levels with history.

## Pivot moments next week

Monday's first test is Chicago Fed President Austan Goolsbee at 10:00 AM ET, after Friday's hot payrolls put rate hikes back in the conversation. The big one is October CPI on Tuesday at 8:30 AM ET (prior core +0.3% month over month), which tests the S&P's 7,350 pivot and the Nasdaq 100's 27,000. CoreWeave reports after Tuesday's close with an implied move of about 18.1%, an AI infrastructure read for AMD's 450. Thursday has jobless claims at 8:30 AM ET, then Cisco and Applied Materials after the close (implied moves about 8.2% and 9.3%), the week's main chip read for AMD and the Nasdaq's 200-day near 27,984. Friday's October producer prices at 8:30 AM ET (prior core +0.7%) close the week. AppLovin has no scheduled report, so its gap levels trade on the broader tape.

## How to read these levels

These levels mark where the market has reacted before and may again. They are not predictions or trade signals. A daily close through a level says more than an intraday poke, and an open gap tends to stay a reference point until price trades back through it.

## Scenarios

- If If the S&P 500 holds above 7,350 through CPI: The broken Oct 30 low at 7,528 becomes the next level in play.
- If If it closes below 7,350 and the 200-day near 7,325: 7,200, a round number with heavy put open interest, becomes the next level with history.

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