Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Wednesday's action: Stocks rebounded off of intraday lows but still closed down on Wednesday as worries surrounding Turkey’s currency crisis and continued trade tensions weighed on investors’ confidence. News to keep in mind Thursday morning: Markets are MUCH higher in pre-market tradingAt 8:35am ET - Dow futures vs fair value: +240.00. S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +53.00. Russell 2000 futures vs fair value: +9.25.The VIX is down over 7% in pre-market tradingKeep an eye out for any trade war headlines and earnings reportsToday's Economic Calendar 8:30 Initial Jobless Claims8:30 Housing Starts8:30 Philly Fed Business Outlook10:30 EIA Natural Gas Inventory4:30 PM Money Supply4:30 PM Fed Balance SheetThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were down Wednesday, but we did hold and bounce off the very strong support level at 280. The MACD lines are negative. The Stochastics are near oversold. The Money Flow is currently a slight positive. The 200-day moving average is looking strong and steady. Looks like the 280 level held and we will be in a 280-284 trading range. The market's reaction to the Turkey news became another buying the dip opportunity. We are expecting the trend of higher lows and higher highs since April to continue. On dips or pullbacks, we may look to add to some positions while keeping an eye out on the trade wars and politics headline risks.In the longer term chart, a nice channel featuring higher lows since April has been shown. At worst we expect any pullbacks will not break the channel's lows. Next resistance level is 284 and then the all-time highs near 287. Very strong support remains at 280.Nasdaq Composite +12.6% YTDRussell 2000 +8.8% YTDS&P 500 +5.4% YTDDow Jones Industrial Average +1.8% 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.