Index history and the ETF move
The S&P 500 price index fell 2.68% from the October 30 close to the November 6 close. In 18 sampled midterm election weeks from 1958 through 2026, this was the largest decline. The previous worst sampled week was 1978, down 1.47%. The S&P 500 launched in 1957; the comparison starts with the first midterm election afterward. This historical sample is context, not a forecast.
The SPY ETF moved 2.70% lower over the same dates and closed Friday at $735.29. The ETF finished below its $765.68 50-day average and above its $730.38 200-day average. Its October 6 intraday high of $781.62 is a separate dated reference. An intraday high is not a closing level or a target.
The index comparison uses completed weekly closes, cross-checked against attributed TradingView index history; the chart above shows SPY daily candles through the completed November 6 regular session. See the November 6 Daily Levels. A daily retest and close above an average would be needed to describe it as reclaimed. Market research only, not a recommendation to buy or sell.