Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: U.S. stocks staged a major reversal on Friday, climbing from steep losses to modest gains. The S&P gained 10 points for the day. Volume and Volatility remain high awaiting more trade deal news, tweets, and rumors. President Trump fueled early trade angst when he said there was no need to rush a deal after the tariff rate on $200 billion of Chinese imports was raised to 25% from 10% early Friday. News to keep in mind Monday morning: Futures trade vs fair value were lower late last night. Dow -223, S&P -25, Nasdaq -78, Russell -15.The biggest factors in the market right now are; Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index closed well off session highs again on Friday. I see this as a sign the market is finding bottom to the pullback in the markets.CHINA TRADE WAR is back on - Shaking up the markets again. Today's Economic Calendar: 9:05 Fed's Rosengren Speech9:10 Fed's Clarida Speech Quick Notes: $UBER $LYFTIn corporate news, Uber (UBER 41.57, -3.43, -7.6%) made its public debut on Friday, although the price action was much more subdued than past IPOs this year. Shares opened at $42 after pricing at $45 per share, which was already at the lower end of the $44-$50 range.Tiger's Take: We don't buy into or believe in this kind of business. Avoid UBER and also sell or short the smaller 2nd place LYFT.THE CHARTS: The markets were upon Friday with another heavy volume day in the SPY. The dip was bought again as the markets ended much higher than the early lows. We are still above the SPY 280 level, which is strong support. The 290 level may be considered resistance. We said in the previous few days the 285 area maybe the place to buy the dip. I am thinking 285 will be support and hold up to any additional selling pressure. So far it has. The 50-day and 200-day MAs are still both rising. This is a good sign for the market technically when the moving averages are headed in an upward sloping direction. The MACD is positive, but declining. The Stochastics are neutral/low. The Money Flow is positive. The 50-day MA (285.47)(+.21) and the 200-day MA (275.23)(+.05) are both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now is the support levels at 280 and new resistance at 290. We are now just below the area of the all-time highs which can also be considered resistance. We are possibly stuck in a 285-290 trading range. Nasdaq Composite +19.3% YTDRussell 2000 +16.6% YTDS&P 500 +14.9% YTDDow Jones Industrial Average +11.2% YTD $SPY $DIA $IWM $QQQ 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. 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.