Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Monday's action: Stocks close lower Monday after stocks failed to defend early gains as investors remained cautious. The S&P 500 lost 16 points and closed below its 200-day moving average (2766.54), which is considered to be a key technical level. News to keep in mind Tuesday morning: Markets are slightly higher in pre-market tradingAt 5:05am ET - Dow futures vs fair value: +20.00. S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +28.00. Russell 2000 futures vs fair value: +1.00.Keep an eye out for any trade headlines or political risksKeep an eye on the VIX - it did not rise much Monday and down in pre-market - should mean a rally attempt today Today's Economic Calendar:8:55 Redbook Chain Store Sales9:15 Industrial Production10:00 Job Openings and Labor Turnover Survey10:00 NAHB Housing Market Index4:00 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 lower on Monday, but without a rise in the VIX. The MACD lines are currently negative. The Stochastics are low/oversold and appear to be trying to cycle up. The Money Flow is currently negative. Futures are higher to start things off here Tuesday morning. I am watching the 274/275 level where we have found some support. The question is will that level be re-tested and hold? I am a bit cautious about the negative money flow, keeping an eye on it. With the big declines in the market it appears we have put in a significant top around 292/293. Also watching the 200-day moving average, It is important to some to remain above that line.On the 9-month chart, the nice channel since April has been shown. This trend/pattern has been broken to the downside. The next level of support may come around 275, with 270 a lower support level.Nasdaq Composite +7.6% YTDS&P 500 +2.9% YTDDow Jones Industrial Average +2.2% YTDRussell 2000 +1.1% 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.