Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Monday's action: The S&P 500 dropped 19 points on Monday, led lower by the technology stocks. Lingering concerns about Chinese retaliation against U.S. tech companies following U.S. scrutiny of Huawei Technologies led to technology sector selling off. Chip stocks were particularly weak. News to keep in mind Tuesday morning: Futures trade vs fair value were higher late last night on word that the US eased some restrictions on China's Huawei. Dow +106, S&P +13, Nasdaq +51, Russell +7.The biggest factors in the market right now are; Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index spiked again last week, but did has dropped back into the mid-teens.CHINA TRADE WAR is back on - Shaking up the markets. Today's Economic Calendar: 7:50 Fed's Bostic Speech8:55 Redbook Chain Store Sales10:00 Existing Home Sales10:45 Fed's Evans Speech12:00 PM Fed's Rosengren Speech Quick Notes: $TSLA Tesla (TSLA 205.36, -5.67, -2.7%) finished well off its session lows (-7.5%), but it still closed at its lowest level since Dec. 2016 after Wedbush cut its price target to $230 from $275. Tiger's Take: Things are getting more desperate here, avoid, sell, or short this. THE CHARTS: The markets were lower on Monday led by chip stock weakness. The technicals have weakened again. The MACD was appearing to halt it's decline, but the last 2 days have pointed them south. The Stochastics are at neutral, but the Money Flow is now barely positive. We are also back below the 50-day moving average. Our strong support level is still holding up. As long as we stay above 280 on a closing basis we should be okay going forward.Currently I see us bouncing around in a 280-290 trading range. The MACD is trying to bottom out. The Stochastics are neutral. The Money Flow is barely positive. The 50-day MA (286.44)(+.21) and the 200-day MA (275.43)(+.03) On the 9-month chart below, the previous patterns are behind us. Shown now are the support levels at 280 and the resistance at 290. We may stay in a 280-290 trading range for awhile. Nasdaq Composite +16.1% YTDS&P 500 +13.3% YTDRussell 2000 +13.1% YTDDow Jones Industrial Average +10.1% 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. 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.