Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Thursday's action: Dec. 5, 2019Dow 27677.70 +28.01 (0.10%)Nasdaq 8570.70 +4.03 (0.05%)SP 500 3117.43 +4.67 (0.15%)The stock market edges out a small out gain in front of employment report due out Friday morning. China says it has maintained close contact with the U.S. as Treasury Secretary Mnuchin says trade talks are still on track. News to keep in mind Friday morning: Futures trade vs fair value was trading slightly higher late last night.Dow +36, S&P +4, Nasdaq +12, Russell +3.The biggest factors in the market right now are; the Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index is back under 15, this is a modest risk back on level.CHINA TRADE WAR is still something to be aware of and can create instant volatility.The Employment Report will be important more than usual today. Today's Economic Calendar:8:30 AM ET, Employment Report for November. The consensus is for 180,000 jobs added, and for the unemployment rate to be unchanged at 3.6%. 10:00 AM, University of Michigan's Consumer sentiment index (Preliminary for December). 3:00 PM, Consumer Credit from the Federal Reserve. THE CHARTS: (NOTE: Charts are a good guide but when a tweet or news item can jerk the markets around, they mean a bit less.) The markets ended higher on Thursday, as we wait on more trade news and economic news. There was very little change to our charts. Only thing different today is that the Stochastics appear like they may start to cycle up. Our possible support level marked at 310 held up again today and we closed above it, this is a good sign. [Repeated] We still view the current set-up under 'normal conditions' is still telling us we should continue to move sideways or up. We notice the 20, 50, and 200 day moving averages are all in alignment and are all moving higher. The current price is also above the 20, 50, 200 MAs, which is good. BUT - Keep in mind and how far we have risen and how fast we have gotten this high, a bit of caution is needed. Although at the same time, there is nothing saying we won't just keep drifting to new highs for the rest of the year and start of the next. As we previously written, you can let winners run, but we would not use excessive margin or open any new large positions. [/Repeated] The Vix after spiking up on the latest drop in the market is again under 15, this is a risk on area. The MACD is positive, but declining. The Stochastics are neutral. The Money Flow is positive. We are above the 50-day MA. The 20,50,200 day moving averages are in a positive alignment and heading higher. The 50-day MA (303.47)(+.29) and the 200-day MA (291.43)(+.19) On the 9-month chart below, we remain in a wide uptrend channel. Nasdaq Composite +29.2% YTDS&P 500 +24.4% YTDRussell 2000 +19.8% YTDDow Jones Industrial Average +18.7% YTD $DIA $SPY $QQQ $IWM Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. With our Daily Trackdowns, check back for additional analysis/observations during the trading day in the comments by us or our readers.