Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Monday's action: he S&P 500 gained 4 points on Monday in what was another volatile day of trading. The Dow at one point was down 500 points and ended the day positive, led by tech names. A very impressive turnaround and successful bounce off of the 260 SPY support level. News to keep in mind Tuesday morning: Futures trade lower - Stocks were slightly down early last night.Keep an eye out for any trade headlines or political risks.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:6:00 NFIB Small Business Optimism Index8:30 Producer Price Index8:55 Redbook Chain Store Sales1:00 PM Results of $38B, 3-Year Note AuctionThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets finished slightly higher on Monday in a big recovery off of early losses. 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 and the previous October low of 260. We MUST hold this level or things could get ugly. The MACD is headed downwards. The Stochastics are neutral/low but maybe a day away from oversold. The Money Flow is positive - with all the volatility there has been more volume on the recoveries/buying. This is a good sign for hopeful bulls. I will be watching for some signs of a buy-able support level/bounce area. 260 did well on Monday. 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) and 255 (the April bottom). These levels must hold.Nasdaq Composite +1.7% YTDDow Jones Industrial Average -1.2% YTDS&P 500 -1.3% YTDRussell 2000 -6.0% 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.