Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: The S&P 500 gained 13 points on Friday. The major averages ended the week at new record highs after a steady daylong push that was led by the Dow. Much of the advance was due to continued expectations of a Fed rate cut. News to keep in mind Monday morning: Futures trade vs fair value were near unchanged late last night... Dow +10, S&P +1, Nasdaq -1, Russell +0.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 is now in the low-teens which is usually considered a 'risk on' area.CHINA TRADE WAR is still an ongoing concern.Today's Economic Calendar: 08:30 Empire State Manufacturing JulQuick Notes: (none) THE CHARTS: (NOTE: Charts are a good guide but when a tweet or news item can jerk the markets around, they mean a bit less.) The markets were higher on Friday with the Dow and S&P 500 making new all-time highs again. On the chart, we are up at the new all-time highs. We now have a good support level at 290 and minor support at 295. The current setup looks like we are going to continue drifting sideways or upwards. Although some weakness maybe possible when the Stochastics are high/overbought. The only point of resistance that could be considered is at the all-time highs. We will have to see if we can stay above 300. I would expect a retest of it. The MACD is positive. The Stochastics are high/overbought. The Money Flow is positive. The 50-day MA (287.96)(+.21) and the 200-day MA (275.32)(+.07) On the 9-month chart below, the previous patterns are behind us. Shown now is the support level at 290 and the new minor support level 295. Nasdaq Composite +24.3% YTDS&P 500 +20.2% YTDDow Jones Industrial Average +17.2% YTDRussell 2000 +16.4% 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. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page With our Daily Trackdowns, check back for additional analysis/observations during the trading day in the comments by us or our readers.