Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Thursday's action: The S&P 500 gained 27 points on Thursday, setting a new intraday high and new record close, bolstered by expectations for easier monetary policy and lower sovereign bond yields. Monetary policy is getting more dovish and sovereign bond yields continue to decline around the globe. News to keep in mind Friday morning: Futures trade vs fair value were slightly lower late last night... Dow -54, S&P -8, Nasdaq -27, Russell -8.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 is back down in the mid-teens.CHINA TRADE WAR is still an ongoing concern.Today's Economic Calendar: 9:45 am Flash manufacturing PMI June9:45 am Flash services PMI June10 am Existing home sales MayQuick Notes: $GLD $GOLDGold futures made a big move Thursday, settling 3.4% higher at $1393.95/oz on expectations that interest rates will continue to decline. We posted a chart yesterday on Barrick Gold (GOLD) by Mike P. Check it out as it appeared to be breaking out of a long base.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 Thursday, making new all-time highs. On the charts, we have jumped over the resistance point at 290. The 'Bull Flag' pattern worked out as we broke well above it! The current setup looks like we are going to continue upwards. The Money Flow has become positive as today's rally was with heavy volume. We now mark the 290 level as support. We have no known resistance as we are at the all-time highs. But some consolidation is possible as the Stochastics are nearing overbought. The MACD is positive. The Stochastics are neutral/high. The Money Flow is now positive. The 50-day MA (287.56)(+.17) and the 200-day MA (275.82)(+.04) On the 9-month chart below, the previous patterns are behind us. Shown now is the re-established support level at 280 and the prior resistance at 290. The question now is will we stay above 290 long enough for it to become support? So far we are going with yes. Nasdaq Composite +21.3% YTDS&P 500 +17.8% YTDRussell 2000 +15.9% YTDDow Jones Industrial Average +14.7% 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.