Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Thursday's action: Sept. 26, 2019Dow 26891.12 -79.59 (-0.30%)Nasdaq 8030.66 -46.72 (-0.58%)SP 500 2977.66 -7.25 (-0.24%) The S&P 500 lost 7 points on Thursday in an indecisive session. The economic data continued to depict a decent U.S. economy, but a headline-heavy day held traders on the sidelines. The employment numbers were a positive, with the China/Huawei trade news being a negative. News to keep in mind Friday morning: Futures trade vs fair value were a bit lower late last night... Dow -32, S&P -4, Nasdaq -29, Russell -3.The biggest factors in the market right now are; Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index is still in the mid-teens. This is a level at which usually means it is a neutral or risk on environment.CHINA TRADE WAR is still an ongoing drama! Today's Economic Calendar: 8:30 am Durable goods orders Aug.8:30 am Core capex orders Aug.8:30 am Personal income Aug.8:30 am Consumer spending Aug.8:30 am Core inflation Aug.8:30 am Randal Quarles speaks10 am Consumer sentiment index Sept 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 were a bit lower on Thursday. There was a slight change to the charts. The Money Flow has gone from slightly negative to neutral. We are still staying within range without much changes to the charts for a while now. We are under the resistance level of SPY 300, but still above the support at 294. So right in the middle area of our 294-300 trading range. We would still be using caution and taking some profits (on a case by case basis depending on your own risk tolerance). Also taking a few new starter size positions in names beaten down or offering good value, maybe a good bet for a possible break out to the upside (also depends on your own risk tolerance). Positive technical note: The 20-day MA is crossed up over the 50-day. (Bullish signal). Possible negative technical note: There is a possibility of a double top at 302 showing. (Bearish signal). The MACD is positive, but at risk. The Stochastics are neutral. The Money Flow is neutral. We are above the 50-day MA. The 50-day MA (293.54)(+.01) and the 200-day MA (280.24)(+.19) On the 9-month chart below, we do see the forming of an upward bound range. This maybe something to keep an eye on. Shown now is that range and the support levels at 280 and 294. The all-time highs near 302 is the resistance/top. Nasdaq Composite +21.0% YTDS&P 500 +18.8% YTDDow Jones Industrial Average +15.3% YTDRussell 2000 +13.7% YTD $SPY $DIA $IWM $QQQ 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.