Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: Dec. 6, 2019Dow 28014.97 +337.27 (1.22%)Nasdaq 8656.53 +85.83 (1.00%)SP 500 3145.91 +28.48 (0.91%) Stocks rally after the November employment report exceeded expectations and China announced that it started to exempt some U.S. agricultural purchases from tariffs. Also consumer sentiment picks up in December. The S&P 500 rises 28 points. News to keep in mind Monday morning: Futures trade vs fair value was trading slightly lower late last night.Dow -42, S&P -5, Nasdaq -14, Russell -2.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 back under 15, this is a modest risk back on level.CHINA TRADE WAR is still something to be aware of and can create instant volatility. Today's Economic Calendar: No events today. 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 ended much higher on Friday, on good economic news. There were some changes to our charts. The MACD appears to have stopped declining as it remains a positive. Our possible support level marked at 310 seems to be a confirmed level now as we have closed above it multiple times now. [Repeated] We still view the current set-up under 'normal conditions' is still telling us we should continue to move sideways or up. We notice the 20, 50, and 200 day moving averages are all in alignment and are all moving higher. The current price is also above the 20, 50, 200 MAs, which is good. BUT - Keep in mind and how far we have risen and how fast we have gotten this high, a bit of caution is needed. Although at the same time, there is nothing saying we won't just keep drifting to new highs for the rest of the year and start of the next. As we previously written, you can let winners run, but we would not use excessive margin or open any new large positions. [/Repeated] The Vix has dropped back down again under 15, this is a risk on area. The MACD is positive. The Stochastics are neutral. 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 (303.82)(+.35) and the 200-day MA (291.63)(+.20) On the 9-month chart below, we remain in a wide uptrend channel. Nasdaq Composite +30.5% YTDS&P 500 +25.5% YTDRussell 2000 +21.2% YTDDow Jones Industrial Average +20.1% YTD $DIA $SPY $QQQ $IWM 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.