Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Wednesday's action: The S&P 500 finished Wednesday with a slight gain of 0.1%, buoyed by financial shares, which rallied amid a rise in interest rates. The blue-chip Dow Jones Industrial Average outperformed, adding 0.6%, but the tech-heavy Nasdaq lagged, closing lower by 0.1%. News to keep in mind Thursday morning: Markets are higher in pre-market tradingAt 6:35am ET - Dow futures vs fair value: +44.00. S&P futures vs fair value: +2.75. Nasdaq futures vs fair value: +11.50. Russell 2000 futures vs fair value: +3.25.Keep an eye out for any trade headlines or political risksThe Economic Calendar may show some important data today... Today's Economic Calendar:8:30 Initial Jobless Claims8:30 Philly Fed Business Outlook10:00 Existing Home Sales10:00 Leading Indicators10:30 EIA Natural Gas Inventory4:30 PM Money Supply4:30 PM Fed Balance SheetThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were up mixed on Wednesday. The MACD lines are flat, but to us show signs of turning up. The Stochastics are neutral/high. The Money Flow is currently a positive. The 200-day moving average is looking strong and steady. 287 on the SPY is the current support level and resistance if any, is at the all-time highs. I expect the market to continue drifting higher even as it deals with the China trade war headlines or political turmoil. We are expecting the trend of higher lows and higher highs since April to continue. On dips or pullbacks, we may look to add to some positions while keeping an eye out on the trade wars and politics headline risks.On the 9-month chart, a nice channel featuring higher lows since April has been shown. This trend/pattern has remained strong. At worst we expect any pullbacks will not break the channel's lows. NOTE: We have had this same message for a while now, we are still in "the trend is your friend" on the 9-month chart.Nasdaq Composite +15.2% YTDRussell 2000 +10.9% YTDS&P 500 +8.8% YTDDow Jones Industrial Average +6.8% 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.