Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Thursday's action:Stocks rebounded on Thursday, resuming its recent upward trend following a trade war led sell off in the prior session. Stocks opened higher and extended their gains throughout the day. The Nasdaq finished at a new record high.News to keep in mind Friday morning: Markets are flat in pre-market tradingAt 7:25am ET - Dow futures vs fair value: -10.00. S&P futures vs fair value: -1.75. Nasdaq futures vs fair value: +3.00.The VIX is close to unchanged in pre-market tradingKeep an eye out for any trade war headlinesToday starts off big bank earningsToday's Economic Calendar 8:30 Import/Export Prices10:00 Consumer Sentiment1:00 PM Baker-Hughes Rig CountThe SPY charts are pictured below. The first is a 3-month chart followed by a longer-term 9-month chart. We have broken back above the 278 level in Thursday's trading. This 2nd attempt to remain over that resistance level may hold. The next level to watch is longer-term resistance at 280, as shown on the 9-month chart. The MACD lines crossed up and are slightly positive. The Stochastics are now showing overbought. The Money flow is currently a slight positive for the markets. This morning's pre-market activity points to a flat open. The Stochastics are showing overbought, but the negative trade war headlines may have been a buying opportunity. At worst, I expect the SPY to stay in the 273-280 trading range. On the next dip/pullback, 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, we are still marking a trading range of 270-280. We would add to positions at the bottom of this range or take some profits at the top of this range. Note: A break out above 280 would be very significant.Nasdaq Composite +13.3% YTDRussell 2000 +10.1% YTDS&P 500 +4.7% YTDDow Jones Industrial Average +0.8% 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.