Markets were rocked to their core on Thursday, putting together one of the worst days in recent memory.

Beginners Series Webinar: Join us on Monday, November 9nd at 2 PM (ET) for our NDW Beginners Series Webinar. This week's topic is: Point & Figure Basics. Register Here.

Below are highlights from the NDW Morning Update Video for the morning of 11/6/26. Access the video on the NDW Morning Update Video page. 

• Markets were rocked to their core on Thursday, putting together one of the worst days in recent memory. The S&P 500 dropped 4.36% for its worst day since the start of the Tariff Tantrum in April of last year.
•  Growth areas of the market were hit the hardest, seeing the Nasdaq-100 drop 6.5% during the session—its worst one-day decline since March of 2020. Yesterday’s move caused the index to complete a third consecutive sell signal while also moving back into a negative trend. That said, the index is down in heavily oversold territory, so it could consolidate or reverse higher in the near-term. For additional context on the move, check out our recent featured article.
• Fears over potential roadblocks in the AI buildout were among the biggest overhangs on the day, while technology led the way to the downside. Tech fund XLK fell 8% on the day, while semi representative (SOXX) cratered more than 12%. Within our DALI rankings, technology has fallen from 2nd to 7th this week.
• While the average stock held up better than most headline indices, it still wasn’t pretty. The S&P 500 Equal Weight (SPXEWI) dropped 2.89%, nearly 1.5% better than the normal S&P 500. Meanwhile, the Positive Trend Percent for the S&P 500 (^PTSPX) fell less than two percentage points to 60.8%, marking a relatively subdued drop in long-term participation.
• Despite the severe selloff, the market’s “fear gauge” is still in relatively normal territory. The VIX expected 30d volatility index sits around 26, which is only a bit above the historical average of ~20. While excessive fear and a high VIX can be a contrarian indicator in favor of the market, it isn’t until Vix readings move to 30 or higher that market returns are above their historical norms.
• During times of panic, it can be easy to deviate from your process, and the sharp one-day drop certainly qualifies as one of these instances. However, the weight of the evidence still continues to shine favorably on domestic equities, with the group sitting first in our DALI rankings. That said, international equities have weakened enough for fall behind commodities in DALI's rankings.