Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: Nov. 22, 2019 Dow 27875.53 +109.33 (0.39%)Nasdaq 8519.88 +13.67 (0.16%)SP 500 3110.29 +6.75 (0.22%) The S&P 500 gained 6 points on Friday as an upwardly revised reading in the University of Michigan's Index of Consumer Sentiment for November gave confidence to traders that the economy was still alive. Meanwhile, the trade talks and rumors continue. News to keep in mind Monday morning: Futures trade vs fair value were higher late last night.Dow +92, S&P +10, Nasdaq +32, Russell +7.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 under 13, this is a risk on level.CHINA TRADE WAR is still something to be aware of. Today's Economic Calendar: 8:30 AM ET, Chicago Fed National Activity Index for October. This is a composite index of other data. 10:30 AM, Dallas Fed Survey of Manufacturing Activity for November. 7:00 PM, Speech, Fed Chair Jerome Powell, Building on the Gains from the Long Expansion, At the Greater Providence Chamber of Commerce 2019 Annual Meeting, Providence, Rhode Island 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 Friday. Due to recent weakness, the MACD has started to turn a bit lower. But, the Money Flow is still very positive and we are no longer overbought on the Stochastics. We remain well above any of our support levels. In fact, 310 has acted as a bit of a support level the last few days. However, still 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. The current set-up under 'normal conditions' is 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 all three MAs, which is good usually. The Vix is under 13, which is risk on for the markets. The MACD is positive. The Stochastics are neutral. The Money Flow is very 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 (301.18)(+.22) and the 200-day MA (289.80)(+.23) On the 9-month chart below, we have broken out to new highs with the previous tops line near 302.50 acting as a support level. We remain in an uptrend channel, but be aware near the top end of the channel. Nasdaq Composite +28.4% YTDS&P 500 +24.1% YTDDow Jones Industrial Average +19.5% YTDRussell 2000 +17.8% YTD $DIA $SPY $QQQ $IWMDisclosure: 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.