Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Friday's action: Stocks rallied on Friday, with equities rising broadly in a partial rebound from a multiday rout that slashed about 1,400 points from the Dow Jones Industrial Average and left the Nasdaq on the precipice of a correction. News to keep in mind Monday morning: Markets are lower in pre-market tradingAt 4:25am ET - Dow futures vs fair value: -119.00. S&P futures vs fair value: -13.75. Nasdaq futures vs fair value: -59.00. Russell 2000 futures vs fair value: -7.25.Keep an eye out for any trade headlines or political risksKeep an eye on the VIX Today's Economic Calendar:8:30 Empire State Mfg Survey 8:30 Retail Sales 10:00 Business InventoriesThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were a bit higher on Friday rebounding after 2 days of steep losses. The MACD lines are currently negative. The Stochastics are low/oversold. The Money Flow is currently negative. Futures are lower to start things off on Monday morning. I am watching the 274/275 level where we found some support Friday. The question is will that level be re-tested and hold? I am a bit cautious about the negative money flow, keeping an eye on it. With the big declines in the market it appears we have put in a significant top around 292/293. Also watching the 200-day moving average, It is important to some to remain above that line.On the 9-month chart, the nice channel since April has been shown. This trend/pattern has been broken to the downside. The next level of support may come around 275 and 270 at worst I believe.Nasdaq Composite +8.6% YTDS&P 500 +3.5% YTDDow Jones Industrial Average +2.5% YTDRussell 2000 +0.7% YTDDisclosure: 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. Follow us and check back occasionally for additional articles or comments. With our Daily Trackdowns, additional analysis/observations during the trading day in the comments by us or our readers.