Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Wednesday's action: Sept. 25, 2019Dow 26970.71 +162.94 (0.61%)Nasdaq 8077.38 +83.76 (1.05%)SP 500 2984.91 +18.27 (0.62%) The S&P 500 gained 18 points on Thursday, as upbeat trade news and strong economic data and earnings helped traders get passed some impeachment concerns. In good economic news, the annual pace of new home sales for August (713,000) exceeded the consensus. News to keep in mind Thursday morning: Futures trade vs fair value were just a bit lower late last night... Dow -5, S&P -2, Nasdaq -11, Russell -1.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 (15.96). This is a level at which usually means it is neutral or risk on.CHINA TRADE WAR is still an ongoing drama! Today's Economic Calendar: 8:30 am Weekly jobless claims 9/218:30 am GDP revision Q28:30 am Advance trade in goods Aug.10 am Pending home sales index Aug. 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 has a positive reversal up day on Thursday. There were very little changes to the charts. The Money Flow is still slightly negative and the MACD is in danger of crossing down. We are under the resistance level of SPY 300, but still above the support at 294. So right in the middle area of our 294-300 trading range. We would still be using caution and taking some profits (on a case by case basis depending on your own risk tolerance). Also taking a few new starter size positions in names beaten down or offering good value, maybe a good bet for a possible break out to the upside. Positive technical note: The 20-day MA is crossed up over the 50-day. (Bullish signal). Possible negative technical note: There is a possibility of a double top at 302 showing. (Bearish signal). The MACD is positive, but at risk. The Stochastics are neutral. The Money Flow is a slight negative. We are above the 50-day MA. The 50-day MA (293.53)(-.02) and the 200-day MA (280.05)(+.19) On the 9-month chart below, the previous patterns are behind us. Shown now is the support level at 280 and the top just over the 300 level. We are in a 280/294 up to the 300/302 top for the trading range for now. Nasdaq Composite +21.7% YTDS&P 500 +19.1% YTDDow Jones Industrial Average +15.6% YTDRussell 2000 +15.0% 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.