Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Friday's action: Stocks closed mostly lower on Friday with bulls failing to defend early gains as weak housing data overshadowed solid corporate earnings. News to keep in mind Monday morning: Markets are higher in pre-market trading - lead by tech.At 5:20am ET - Dow futures vs fair value: +10.00. S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +55.00. Russell 2000 futures vs fair value: +22.00.Keep an eye out for any trade headlines or political risksKeep an eye on the VIX - down almost 2% in pre-marketsBig recovery in the Chinese stock market overnight Today's Economic Calendar:8:30 Chicago Fed National Activity IndexThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were mixed on Friday, but did hold above support at 276. The MACD lines are currently negative. The Stochastics are neutral. The Money Flow is currently negative. I am watching the 280 and 276 levels. The question is at what level will we hold? So far 276 did hold on a retest last week. I am a bit cautious about the negative money flow, keeping an eye on it. With the declines in the market it appears we have put in a top around 292/293. Also watching the 200-day moving average, It is important to some to remain above that line. So far we have bounced off the 200-day and are now a good bit above it.On the 9-month chart, the nice channel since April has been shown. This trend/pattern was broken to the downside. Awaiting the emergence of the next pattern. The next level of support may be around either 280 or 275. 270 is a strong support level.Nasdaq Composite +7.9% YTDS&P 500 +3.5% YTDDow Jones Industrial Average +2.9% YTDRussell 2000 +0.4% 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.