Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Wednesday's action: Stocks showed a lack of direction over the course of trading on Wednesday before ending the day roughly flat. News to keep in mind Thursday morning: Markets are higher in pre-market tradingAt 9:15am ET - Dow futures vs fair value: +122.00. S&P futures vs fair value: +10.25. Nasdaq futures vs fair value: +43.50. Russell 2000 futures vs fair value: +5.50.Keep an eye out for any trade headlines or political risksHurricane Florence weakenedChina and the U.S. are talking again Today's Economic Calendar8:30 Initial Jobless Claims8:30 Consumer Price Index10:30 EIA Natural Gas Inventory12:30 PM Fed's Bostic: Economic Outlook and Monetary Policy1:00 PM Results of $15B, 30-Year Note Auction2:00 PM Treasury Budget4:30 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 mixed on Wednesday. The MACD lines are neutral. The Stochastics are neutral. The Money Flow is currently a positive. The 200-day moving average is looking strong and steady. 287 on the SPY may have become a support level. I expect the market to drift higher. 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.Nasdaq Composite +15.2% YTDRussell 2000 +11.7% YTDS&P 500 +8.1% YTDDow Jones Industrial Average +5.2% 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.