Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Wednesday's action: Stocks ended up a bit higher on Wednesday as the Dow and S&P 500 rose while the Nasdaq had a very small loss. News to keep in mind Thursday morning: Markets are lower in pre-market trading - Looks like due to Trade War news again.At 8:40am ET - Dow futures vs fair value: -103.00. S&P futures vs fair value: -6.75. Nasdaq futures vs fair value: -22.50.The VIX is up over 4% in pre-market tradingKeep an eye out for any trade war headlines and earnings reportsToday's Economic Calendar 8:30 Initial Jobless Claims8:30 Philly Fed Business Outlook9:00 Randal Quarles: “Alternative Reference Rates Committee Roundtable”9:45 Bloomberg Consumer Comfort Index10:00 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 3-month chart followed by a longer-term 9-month chart. We broke above the 280 level! With the current decline in pre-market futures we may see if 280 now becomes support or if support is at the 278 level. The MACD lines crossed up and are positive. The Stochastics are now showing overbought. The Money flow is currently a positive for the markets. The Stochastics are showing overbought, but the positive moves of the MACD and Money Flow have been showing strong market momentum. At worst, I expect the SPY to stay in a 273-284 trading range. On the next dip/pullback, we may look to add to some positions while keeping an eye out on the trade wars and politics headline risks.- -This morning's weakness looks like a trade war news pullback/sell the news headlines trade. Like all the other times it should be used to buy the dip. --In the longer term chart, we are now marking a trading range of 273-284. We would add to positions at the bottom of this range or take some profits at the top of this range. Note: The break above 280 was very significant to us.Nasdaq Composite +13.8% YTDRussell 2000 +10.2% YTDS&P 500 +5.3% YTDDow Jones Industrial Average +1.9% 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.