Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: The S&P 500 gained 29 points on Friday, as traders were happy to hear that U.S.-China trade-talks produced some progress and that Congress passed a funding resolution to avoid another government shutdown. It was a broad-based advance as all 11 S&P 500 sectors finished higher for the day. News to keep in mind Tuesday morning: Futures trade vs fair value were near unchanged late last night - except for the Nasdaq at +12.The China trade war news and Fed watching are still the 2 biggest issues currently to keep an eye on.Keep an eye on the VIX - The Vix it has been staying in the mid-teens. At this level and lower is a 'risk on' kind of environment.We are staying above the 50-day moving average on the S&P 500 - This level is now strong support. Today's Economic Calendar:8:50 Fed's Mester: Monetary Policy and Economic Outlook10:00 NAHB Housing Market IndexQuick Notes: (none) THE CHARTS: The markets were a much higher on Friday. But keep in mind 280 is major resistance line. We are still above the 50-day moving average AND the 200-day moving average now. Both MAs are also rising in a very slight upward slope. A very good sign for the market technically when the moving averages are all headed in an upward sloping direction. The MACD is positive. The Stochastics are neutral/high. The Money Flow is positive. I see us being in a 270-280 trading range. The 50-day MA (260.86) and the 200-day MA (272.12) are now both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now is the resistance level at 280. Support is found at 270. We are right back into the trading range of 260-270-280 before the V-dip. Russell 2000 +16.4% YTDNasdaq Composite +12.6% YTDDow Jones Industrial Average +11.0% YTDS&P 500 +10.7% YTD NOTICE: The Russell 2000 (IWM) is leading the market higher so far this year, outperforming the larger averages.$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. 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.