Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Thursday's action: The S&P 500 overcame a slow start to gain 10 points by the close on Thursday, as dovish Fed commentary fueled expectations for easy monetary policy. Also most earnings reports were positively viewed Thursday. (see Quick Notes below). News to keep in mind Friday morning: Futures trade vs fair value were higher late last night... Dow +115, S&P +10, Nasdaq +48, Russell +4.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 which is usually considered a 'risk on' area.CHINA TRADE WAR remains an ongoing concern.We are in EARNINGS season. Today's Economic Calendar: 10:00 Univ. of Michigan Consumer Sentiment - Prelim JulQuick Notes: $NFLX $PM $IBM $HON $MSBAD EARNINGS NEWS: Netflix (NFLX 325.21, -37.23) fell 10.3% after disappointing investors with a miss on net subscriber additions.GOOD EARNINGS NEWS: Philip Morris International (PM 87.71, +6.66, +8.2%), IBM (IBM 149.63, +6.56, +4.6%), Morgan Stanley (MS 44.43, +0.66, +1.5%), and Honeywell (HON 173.88, +5.26, +3.1%) climbed on better-than-expected results.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 slightly higher on Wednesday on good earnings reports for the most part and a dovish Fed speaker. On the chart, we are still above our support level at 290 and our minor support level at 295 did hold up. The previous pullback setup has expired for us, as the Stochastics are no longer high/overbought. The MACD is showing some signs of weakening due to the last few prior days. Just something to keep an eye on.Now that the pullback/pause is over and we started to bounce higher, We would expect higher stock prices the next few days at least. Getting back to the all-time highs would be our target area. The MACD is neutral, but showing some weakness. The Stochastics are neutral. The Money Flow is positive. The 50-day MA (288.69)(+.24) and the 200-day MA (275.58)(+.06) On the 9-month chart below, the previous patterns are behind us. Shown now is the support level at 290 and the new minor support level 295. Nasdaq Composite +23.7% YTDS&P 500 +19.5% YTDDow Jones Industrial Average +16.7% YTDRussell 2000 +15.4% 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.