Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: Oct. 4, 2019Dow 26573.72 +372.68 (1.42%)Nasdaq 7982.48 +110.21 (1.40%)SP 500 2952.05 +41.38 (1.42%) The S&P 500 gained 41 points on Friday, with buying picking up after the release of the Employment Situation Report for September and continuing throughout the day. It was a broad rally, led by shares of financial and technology companies, although trading volume was a bit light. The S&P 500 closed back above its 50-day moving average (2942). News to keep in mind Monday morning: Futures trade vs fair value were lower late last night... Dow -120, S&P -14, Nasdaq -41, Russell -8.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 in the high teens (17s) now. This is a level at which usually means it is a bit cautious.CHINA TRADE WAR is still an ongoing drama! Today's Economic Calendar: 3:00 PM, Consumer Credit from the Federal Reserve 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 ended much higher on Friday, which gave the charts some positive changes. The MACD and Money Flow both improved to neutral as we closed back above the 50-day moving average. We are now right back at our 294 line, marking both resistance and support. This would be in the middle of a 288 to 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). We also would take a few new starter size positions in names beaten down or offering good value (also depends on your own risk tolerance). The MACD is neutral after crossing down. The Stochastics are neutral/low. The Money Flow is neutral. We are above the 50-day MA. The 50-day MA (292.97)(-.08) and the 200-day MA (281.36)(+.22) On the 9-month chart below, the last patterns are null and void and we are in a large trading range of 282 to 302. Nasdaq Composite +20.3% YTDS&P 500 +17.8% YTDDow Jones Industrial Average +13.9% YTDRussell 2000 +11.3% 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.