Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Wednesday's action: Dec. 4, 2019 Dow 27649.69 +146.97 (0.53%)Nasdaq 8566.67 +46.03 (0.54%)SP 500 3112.76 +19.56 (0.63%) The S&P 500 gained back 19 points on Wednesday as stocks rebound after Bloomberg reported that trade talks are nearing a deal despite recent escalation in trade spat. News to keep in mind Thursday morning: Futures trade vs fair value was trading just below unchanged late last night.Dow -12, S&P -2, Nasdaq -6, Russell -1.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 back under 15, this is a modest risk back on level.CHINA TRADE WAR is still something to be aware of and can create instant volatility. Today's Economic Calendar: 8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 215,000 initial claims, up from 213,000 last week. 8:30 AM: Trade Balance report for October from the Census Bureau. The consensus is the trade deficit to be $49.0 billion. The U.S. trade deficit was at $52.5 billion in September. 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 Wednesday, as we received less negative trade war headlines compared to the day before. Our possible support level marked at 310 was regained today and closed above, this is a good sign. 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. The Vix after spiking up on the latest drop in the market is again under 15, this is a risk on area. The MACD is positive, but declining. The Stochastics are neutral. 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 (303.18)(+.31) and the 200-day MA (291.24)(+.19) On the 9-month chart below, we remain in an uptrend channel. Nasdaq Composite +29.1% YTDS&P 500 +24.2% YTDRussell 2000 +19.7% YTDDow Jones Industrial Average +18.5% 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.