Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Monday's action: Dec. 16, 2019Dow 28235.80 +100.51 (0.36%)Nasdaq 8814.24 +79.35 (0.91%)SP 500 3191.45 +22.65 (0.71%) The large-cap indices closed at new record highs on trade optimism, upbeat China data, and the bullish bias remaining intact. The S&P 500 gained 22 points in a broad-based advance, except for Boeing ($BA) and FedEX ($FDX) which dragged on the industrial sector. News to keep in mind Tuesday morning: Futures trade vs fair value were trading around unchanged late last.Dow -10, S&P +0, Nasdaq +3, Russell -0.The biggest factors in the market right now are; the Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index is down under 13, this is a full risk on level.CHINA TRADE WAR is still something to be aware of and can create instant volatility. Today's Economic Calendar:8:30 AM ET, Housing Starts for November. The consensus is for 1.344 million SAAR, up from 1.314 million SAAR. 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for October. The consensus is for a 0.8% increase in Industrial Production, and for Capacity Utilization to increase to 77.2%. 10:00 AM, Job Openings and Labor Turnover Survey for October from the BLS. 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 ended higher on Monday making new all-time highs again! There were only very minor changes to our charts today. We do see now is that the MACD did make a positive cross up Monday, which is usually bullish. We also note that the last few trading days the gains have come with high volume, which is also usually bullish. Everything looks good at the moment for a continued drift higher. But we still have some caution due to being over the top of the uptrend channel shown on the 9-month chart. [Repeated] We still view the current set-up under 'normal conditions' is still telling us we should continue to move sideways or up. We notice the 20, 50, and 200 day moving averages are all in alignment and are all moving higher. The current price is also above the 20, 50, 200 MAs, which is good. BUT - Keep in mind and how far we have risen and how fast we have gotten this high, a bit of caution is needed. Although at the same time, there is nothing saying we won't just keep drifting to new highs for the rest of the year and start of the next. As we previously written, you can let winners run, but we would not use excessive margin or open any new large positions. [/Repeated] The Vix has drifted back down to a very low level, which is full risk on for the markets. The MACD is positive. The Stochastics are neutral/high. The Money Flow is positive. We are above the 50-day MA. The 20,50,200 day moving averages are in a positive alignment and heading higher. The 50-day MA (306.57)(+.50) and the 200-day MA (292.84)(+.22) On the 9-month chart below, we remain in a wide uptrend channel. Caution though as we are above the upper trend line now, which is an overbought look. Nasdaq Composite +32.8% YTDS&P 500 +27.3% YTDRussell 2000 +22.4% YTDDow Jones Industrial Average +21.0% YTD $DIA $SPY $QQQ $IWM 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.