Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Friday's action: Dec. 27, 2019Dow 28645.17 +23.87 (0.08%)Nasdaq 9006.64 -15.77 (-0.17%)SP 500 3240.02 +0.11 (0.00%) Stocks ended mixed, not much in the way of activity or news. News to keep in mind Monday morning: * read about the Money Flow below - use caution. Futures trade vs fair value were trading slightly higher late last.Dow +17, S&P +1, Nasdaq +12, Russell +1.The biggest factors in the market right now are; the Global Economy, China trade deals, Fed speak, and the US Treasury markets.Keeping an eye on the VIX - The CBOE Volatility Index is down under 14, this is a full risk on level.CHINA TRADE news is still something to be aware of and can create instant volatility. Today's Economic Calendar: 9:45 AM ET, Chicago Purchasing Managers Index for December. 10:00 AM, Pending Home Sales Index for November. The consensus is for a 1.1% increase in the index. 10:30 AM, Dallas Fed Survey of Manufacturing Activity for December. This is the last of regional manufacturing surveys for December. 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 mixed on Friday with the Dow slightly positive and the Nasdaq a bit negative. Our chart's technicals have stayed about the same. However, we do notice a potential problem with the large rally we have had. Besides the Stochastics being overbought, we notice the Money Flow had been declining and just above the positive mark now. This usually is a sign the market needs a rest/pullback. A such though, we would be inclined to buy the dips currently as long as our support levels hold. We would use these support levels as 'stops' for some of our positions. We use the last breakout point at SPY 314 as a possible support level to watch, as well as the 317.50 area 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 is down at a low level, which is full risk on for the markets. The MACD is positive. The Stochastics are overbought. The Money Flow is neutral, but had been declining *CAUTION*. 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 (309.48)(+0.52) and the 200-day MA (293.30)(+0.23) On the 9-month chart below, we remain in a wide uptrend channel that has lasted now for 6 months! Caution though as we are above the upper trend line now, which is an overbought look. In many cases we drop back down into the channel. Nasdaq Composite +35.7% YTDS&P 500 +29.3% YTDRussell 2000 +23.8% YTDDow Jones Industrial Average +22.8% 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.