Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Monday's action: The S&P 500 gained 13 points on Monday, helped by the U.S. and Mexico reaching a deal to avoid tariffs that were scheduled to be imposed today. At its high, the index was above the 2900 level for the first time since early May, but profit taking later in the day pulled it back. News to keep in mind Tuesday morning: Futures trade vs fair value was higher late last night... Dow +63, S&P +7, Nasdaq +35, Russell + 2.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: 6:00 am NFIB small-buisness index - May8:30 am Producer price index - May8:30 am Core Producer price index - May Quick Notes: (none) 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 Monday in the continuation of the oversold bounce/rally. We now have had 5 up days in a row. The technicals have improved as the MACD is now turning upwards after a positive cross. The Money Flow has gone from negative to positive. The SPY is now back above both the 200-day moving average, the 280 mark, and now the 50-day moving average. Our previous strong support level at 280 is back as support again now. 290 is still strong resistance, and there maybe minor resistance at 288. The MACD is turning up. The Stochastics are high/overbought. The Money Flow is positive. The 50-day MA (286.87)(+.16) and the 200-day MA (275.58)(+.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 resistance at 290. Nasdaq Composite +17.9% YTDS&P 500 +15.2% YTDRussell 2000 +13.0% YTDDow Jones Industrial Average +11.7% 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.