Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: Sept. 6, 2019 Dow 26797.44 +69.31 (0.26%)Nasdaq 8103.11 -13.75 (-0.17%)SP 500 2978.71 +2.71 (0.09%) The stock market finished mixed on Friday, as it was taking a break after a strong two-day rally. The S&P 500 gained 2 points. News to keep in mind Monday morning: Futures trade vs fair value were slightly higher late last night... Dow +58, S&P +8, Nasdaq +21, Russell +3.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 now down at 15 as it dropped again on Friday. This is a level at which usually means it is risk on.CHINA TRADE WAR is still an ongoing drama! Today's Economic Calendar: 3 pm Consumer credit July 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 mixed on Friday. Not much change to the chart except the Stochastics are showing overbought after the strong two day rally. We are still cautious due to many macro economic and geopolitical issues, but things are looking better after the last week. next trouble spot for the market is strong resistance at SPY 300. We still reiterate the note above, as the charts mean a bit less when a tweet or news item jolts the market without notice. *Repeating* - Due to MANY different geopolitical concerns / global growth concerns we are remaining cautious. (Meaning not starting any new large long positions, taking some profits). The strong resistance level we had at 294 was decisively broken to the upside and may now become future support. We will observe and show the previous support and resistance levels, but we now have a new tight 294-300 trading range. * Look for the MACD to bottom, that could mark a good buying point. * (We stayed cautious, but this turned out to be correct). The MACD is positive/crossed upwards. The Stochastics are overbought. The Money Flow is positive. We are back above the 50-day MA. The 50-day MA (294.27)(+.15) and the 200-day MA (279.12)(+.14) 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 to 300 trading range for now. Nasdaq Composite +22.1% YTDS&P 500 +18.8% YTDDow Jones Industrial Average +14.9% YTDRussell 2000 +11.6% 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.