Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Monday's action: Stocks closed Monday lower after squandering opening gains and trading mostly in negative territory throughout the day. Another day of disappointing investor response to earnings, possibly rooted in the belief that corporations are at, or near, peak earnings growth, dampened any attempt for a rebound. News to keep in mind Tuesday morning: Markets are lower in pre-market trading - went under the 200-day MAAt 4:30am ET - Dow futures vs fair value: -270.00. S&P futures vs fair value: -35.00. Nasdaq futures vs fair value: -104.00. Russell 2000 futures vs fair value: -12.50.Keep an eye out for any trade headlines or political risksKeep an eye on the VIX - up 14% Today's Economic Calendar: 8:55 Redbook Chain Store Sales9:30 Fed's Kashkari Speech10:00 Richmond Fed Mfg.1:00 PM Results of $38B, 2-Year Note Auction1:30 PM Fed's Bostic: Economic Outlook and Monetary Policy2:15 PM Fed's Kaplan speech6:15 PM Fed's Evans Speech8:00 PM Fed's George: “Disruption in the Payments Landscape” The SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were mostly lower on Monday, but after hours is weak. The MACD lines are currently negative. The Stochastics are neutral. The Money Flow is currently negative. I am now watching the 270 level and the 200-day MA. The question is at what level will we hold? I am a bit cautious and worried about the negative money flow, keeping an eye on it. The technicals are not looking to good at the moment. The 200-day MA was broken in late after-hours trading, which led to some added on technical selling. The most recent low was just above the 270 level. This may be retested, and must hold or risk further downside. On the 9-month chart, the nice channel since April has been shown. This trend/pattern was broken to the downside. Awaiting the emergence of the next pattern. The next level of support may be around 270. Nasdaq Composite +8.2% YTDS&P 500 +3.1% YTDDow Jones Industrial Average +2.4% YTDRussell 2000 +0.3% YTD 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. 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.