Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Wednesday's action: Stocks rose on trade war hopes, but close well off of the highs. News to keep in mind Thursday morning: Futures trade higher - Stocks were higher vs fair value @8:40am ET - Dow +56, S&P +7, Nasdaq +38.Keep an eye out for any trade headlines or political risks.The China trade war news and Fed watching are the 2 biggest issues currently to keep an eye on.Keep an eye on the VIX - it is still over 20 which means the market is vulnerable to large price swings. Today's Economic Calendar:8:30 Initial Jobless Claims8:30 Import/Export Prices10:30 EIA Natural Gas Inventory1:00 PM Results of $16B, 30-Year Note Auction4:30 PM Money Supply4:30 PM Fed Balance SheetThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets finished higher on Wednesday, but chart wise not much has changed. The technicals are still damaged due to being below both the 50-day and 200-day moving averages. Resistance levels are now at 280 and both of the moving averages. Support possibly at 263/264 and the previous October low of 260. We MUST hold the 260 level or things could get ugly. The MACD is negative. The Stochastics are neutral/low and have started cycling back upwards. The Money Flow is neutral and declined in the last 2 trading days. I will be watching for some signs of a buy-able support level/bounce area. Happy Trading!On the 9-month chart, the nice channel from April to September has been shown. This trend/pattern was broken to the downside. Awaiting the emergence of the next pattern. The 200-day moving average and 280 are the resistance levels. We will have to see where we can find support. The level to consider is 260 (the October low). So far this level was tested and held.Nasdaq Composite +2.8% YTDDow Jones Industrial Average -0.8% YTDS&P 500 -0.8% YTDRussell 2000 -5.2% 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.