Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Friday's action: The S&P 500 tumbled 62 points on Friday, due to concern about the trade negotiations between the U.S. and China and concern over future economic growth. The inability to sustain an early rally effort following Thursday's strong rebound, and a generally supportive employment report, raised some concern that the week's down leg had yet to run its course. Volatile price action also undercut investor sentiment and tempered confidence in buy-the-dip efforts. News to keep in mind Monday morning: Futures trade lower - Dow down about 200 early last night.Keep an eye out for any trade headlines or political risks.Keep an eye on the VIX - it has been rising again and has gotten over 20 again. Today's Economic Calendar:(none)The SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets finished much lower again on Friday with more China trade war fears. The technicals are suffering from the damage of being below both the 50-day and 200-day moving averages. Resistance levels are now at 280 and both of the moving averages. Support possibly 262.25 and the previous October low of 260. We MUST hold this level or things could get ugly. The MACD is neutral/headed downwards. The Stochastics are neutral but maybe 1-2 days from oversold. The Money Flow is slightly positive, giving us slight hope that their has been more volume on the recovery attempts than the dips. I will be watching for some signs of a buy-able support level/bounce area. Happy Trading!On the 9-month chart, the nice channel from April to September has been shown. This trend/pattern was broken to the downside. Awaiting the emergence of the next pattern. The 200-day moving average and 280 are the resistance levels. We will have to see where we can find support, my next level to consider is 260 (the October low) and 255 (the April bottom). These levels must hold.Nasdaq Composite +1.0% YTDDow Jones Industrial Average -1.3% YTDS&P 500 -1.5% YTDRussell 2000 -5.7% 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.