Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Monday's action: Stocks fell on Monday, with tech shares leading the retreat, as investors prepared for another round of U.S. tariffs on Chinese goods. News to keep in mind Tuesday morning: Markets are higher in pre-market tradingAt 5:40am ET - Dow futures vs fair value: +61.00. S&P futures vs fair value: +6.75. Nasdaq futures vs fair value: +20.50. Russell 2000 futures vs fair value: +6.25.The VIX was up 13% on Monday, currently down 3% in early pre-marketKeep an eye out for any trade headlines or political risks Today's Economic Calendar8:55 Redbook Chain Store Sales10:00 NAHB Housing Market Index 4:00 PM Treasury International CapitalThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were down hard on Monday due to trade war issues again. The futures are up Tuesday morning as Monday was an overreaction. The MACD lines are neutral. The Stochastics are neutral/high. The Money Flow is currently a positive. The 200-day moving average is looking strong and steady. 287 on the SPY may have become a support level. I expect the market to continue drifting higher even as it deals with the China trade war headlines. 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.On the 9-month chart, a nice channel featuring higher lows since April has been shown. This trend/pattern has remained strong. At worst we expect any pullbacks will not break the channel's lows. NOTE: We have had this same message for a while now, we are still in "the trend is your friend" on the 9-month chart.Nasdaq Composite +14.4% YTDRussell 2000 +10.9% YTDS&P 500 +8.1% YTDDow Jones Industrial Average +5.4% 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.