Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: Nov. 8, 2019Dow 27681.28 +6.44 (0.02%)Nasdaq 8475.32 +40.80 (0.48%)SP 500 3093.08 +7.90 (0.26%) The stock market ran up at the close to make new all-time highs Friday, with the S&P 500 gaining 7 points. The market remained optimistic about the China trade news. News to keep in mind Monday morning: Futures trade vs fair value were lower late last night. Dow -99, S&P -9, Nasdaq -27, Russell -4.The biggest factors in the market right now are; the Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index is under 13, this is risk on, although in the low 12s it maybe a bit to low.CHINA TRADE WAR is still something to be aware of. Today's Economic Calendar: Veterans Day Holiday: Most banks will be closed in observance of Veterans Day. The stock market will be open. No economic releases are scheduled. 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 were higher on Friday making new highs with a push higher late in the day. There were no big changes to our charts as we continue to rally higher. The only concern we have now is how far we have rally and how fast, we maybe due for a breather. Our or long term chart we mark the break out point of 302.50 as a support level. 304 may also act as such. As far as the technical indicators go; the Stochastics are at high/overbought while the MACD and the Money Flow are positive. With the Stochastics this high and such a large move upwards recently, we would expect some kind of breather or pullback to be possible. As long as we stay above 300 that pullback should be bought. The current set-up under 'normal conditions' is telling us the next move is up or sideways. We notice the 20, 50, and 200 day moving averages are all in alignment and are all moving higher. Even so, we do remain a bit cautious and would not go all-in or use excessive margin. The Vix is under 13, which is full risk on for the markets. As low it is now though it maybe considered to low. The MACD is positive. The Stochastics are high/overbought. The Money Flow is positive. We are above the 50-day MA. The 20,50,200 day moving averages are in a positive alignment and heading higher. The 50-day MA (298.28)(+.36) and the 200-day MA (287.56)(+.24) On the 9-month chart below, we have broken above the previous double top near 302.50, that area may now become a support level. Nasdaq Composite +27.7% YTDS&P 500 +23.4% YTDDow Jones Industrial Average +18.7% YTDRussell 2000 +18.6% 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.