Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: The S&P 500 gained 28 points on Friday, as a strong employment report underpinned a move back to near all-time highs. News to keep in mind Monday morning: Futures trade vs fair value were down big late last night. Dow -465, S&P -54, Nasdaq -161, Russell -33.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 Vix is still down in the low teens. This is a 'risk-on' level. But will spike with today's trade war debacle.CHINA TRADE WAR is back on - Shaking up the markets overnight. Today's Economic Calendar: (none) Quick Notes: (none)THE CHARTS: The markets were up on Friday making new highs. BUT the China trade war blew up this weekend. We are still above the SPY 280 and 290 levels, which have become support. The 290 level may not hold considering the down futures and trade war news. I do expect the 280 level to be strong support however. 285 area maybe the place to buy the dip. The 20-day, 50-day and 200-day MAs are all rising. This is a good sign for the market technically when the moving averages are all headed in an upward sloping direction. The MACD is positive. The Stochastics are neutral. The Money Flow is positive. NOTE: Due to the Stochastics being overbought, we could have short-term pullbacks, but currently they should be bought as the MACD, the Money Flow, and other technicals are all positive. Once the stochastics are no longer showing overbought I expect the uptrend to continue. The 50-day MA (284.40)(+.35) and the 200-day MA (274.93)(+.09) 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 290. We are now just below the area of the all-time highs which could be considered resistance. This trade war gap down may reach down a bit into the 280s, but we think 280 will hold. Nasdaq Composite +23.0% YTDRussell 2000 +19.7% YTDS&P 500 +17.5% YTDDow Jones Industrial Average +13.6% 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.