Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Thursday's action: The S&P 500 lost 2 points on Thursday in a little changed trading session. The session featured several economic releases and a good bit of company-specific news, but the market barely moved.News to keep in mind Friday morning: Futures trade vs fair value were higher late last night. Dow +94, S&P +6, Nasdaq +25, Russell +1.The China trade war news and Fed watching are still the 2 biggest issues to keep an eye on.Keep an eye on the VIX - The Vix is still in the teens, which is "risk on" for the markets. We are staying above the 200-day moving average on the S&P 500 - This level is now support.Can we close the week above S&P 2,800? It would be a good sign going forward if we do. Today's Economic Calendar: 8:30 Empire State Mfg Survey9:15 Industrial Production10:00 Consumer Sentiment10:00 Job Openings and Labor Turnover Survey1:00 PM Baker-Hughes Rig Count4:00 PM Treasury International CapitalQuick Notes: (none)THE CHARTS: The markets were little changed on Thursday and the charts have changed very little from yesterday. As I have been writing here for a while: "Do keep in mind 280 is major resistance line." This level will be a tough fight. Now the question - can we stay above this level now? We are still above the 50-day moving average AND the 200-day moving average now. Both MAs are also rising. This is a good sign for the market technically when the moving averages are all headed in an upward sloping direction. In addition, we are heading towards a "golden cross" as the 50-day is poised to cross back above the 200-day. The MACD is positive. The Stochastics are neutral/high. The Money Flow is a slight positive. We were in a trading range with 280 as the resistance and the 200-day MA near 273 as the support. Stay tuned to see if the 280 level now becomes support! The 50-day MA (269.55)(+.62) and the 200-day MA (273.23)(+.06) are both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now IS/WAS the resistance level at 280. Support is found at 273. We were in a 270-280 trading range. We will have to wait and see what the market does from here. Russell 2000 +14.9% YTDNasdaq Composite +15.0% YTDS&P 500 +12.0% YTDDow Jones Industrial Average +10.2% 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.