Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Monday's action: The S&P 500 gained 10 points on Monday in a session led by the cyclical sectors. Some follow-through buying interest helped the market advance in front of the Fed's policy meeting this week.News to keep in mind Tuesday morning: Futures trade vs fair value were a bit higher late last night - Dow +43, S&P +4, Nasdaq +10, Russell +1.The China trade war news and Fed watching are still the 2 biggest issues to keep an eye on.Keep an eye on the VIX - The Vix is still in the teens, which is "risk on" for the markets. We are staying above the 200-day moving average and the 2,800 level so far on the S&P 500 - These levels are now support. Today's Economic Calendar: 10:00 Factory Orders Quick Notes: $BA $FB The markets went up without Boeing (BA 372.28, -6.71, -1.8%) and Facebook (FB 160.47, -5.51, -3.3%), who continued to extend their losses from last week.THE CHARTS: The markets were higher on Monday keeping the S&P 500 above 2,800 at the close of the week. As I have been writing here for a while: "Do keep in mind 280 is major resistance line." This level will be a tough fight. Now the question - can we stay above this level now? We are still above the 50-day moving average AND the 200-day moving average now. Both MAs are also rising. This is a good sign for the market technically when the moving averages are all headed in an upward sloping direction. In addition, we are heading towards a "golden cross" as the 50-day is poised to cross back above the 200-day. The MACD is positive. The Stochastics are high/overbought. The Money Flow is a slight positive. We were in a trading range with 280 as the resistance, stay tuned to see if the 280 level now becomes support! So far it is. The 50-day MA (269.80)(+.78) and the 200-day MA (272.20)(+.08) are both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now WAS the resistance level at 280. We will have to wait and see what the market does from here. Will 280 become support? So far so good. Nasdaq Composite +16.3% YTDRussell 2000 +16.0% YTDS&P 500 +13.0% YTDDow Jones Industrial Average +11.1% 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.