Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Thursday's action: Stocks closed higher on Thursday, with the Dow having its best day in four months due to strong corporate earnings from Walmart and Cisco Systems. News that the U.S. and China are prepared to resume trade talks next week also bolstered investors’ sentiment. News to keep in mind Friday morning: Markets are slightly lower in pre-market tradingAt 8:00am ET - Dow futures vs fair value: -5.00. S&P futures vs fair value: -1.25. Nasdaq futures vs fair value: -9.00. Russell 2000 futures vs fair value: -1.00.The VIX is up 1% in pre-market tradingKeep an eye out for any trade war headlines and earnings reportsToday's Economic Calendar 10:00 Consumer Sentiment10:00 E-Commerce Retail Sales10:00 Leading Indicators1:00 PM Baker-Hughes Rig CountThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were much higher Thursday. The MACD lines are neutral. The Stochastics are neutral. The Money Flow is currently a slight positive. The 200-day moving average is looking strong and steady. The 280 level held and pushed us right back to the upper end of the 280-284 trading range. The market's reaction to the Turkey news became another buying the dip opportunity. We are expecting the trend of higher lows and higher highs since April to continue. On dips or pullbacks, we may look to add to some positions while keeping an eye out on the trade wars and politics headline risks.In the longer term chart, a nice channel featuring higher lows since April has been shown. At worst we expect any pullbacks will not break the channel's lows. Next resistance level is 284 and then the all-time highs near 287. Very strong support remains at 280.Nasdaq Composite +13.1% YTDRussell 2000 +9.8% YTDS&P 500 +6.3% YTDDow Jones Industrial Average +3.4% 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.