Brief Recap and Updates on the MarketsSPY Chart and some Technical Analysis Stocks were mostly flat on the DOW and a bit lower in the Nasdaq and tech names on Friday. News to keep in mind Monday morning: Markets are higher on all the averages in pre-market trading.Overnight - Dow futures vs fair value: +220.00. S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +59.00.10-yr Treasury yields go to 3.07% - Keep an eye on how this affects the market.Futures up on news late Sunday that the U.S. will not impose tariffs on China. “We’re putting the trade war on hold. So right now, we have agreed to put the tariffs on hold while we try to execute the framework,” Mnuchin said on “Fox News Sunday.” On the SPY chart below it is important to note the SPY is still above its 50-day MA. The MACD lines are positive. The Stochastics are neutral. The Chaikin is showing a modest amount of money flowing into the markets. We had what appeared to be another TOPPING CANDLE last week. With the sharp rise in futures overnight this top may get tested today. Previously I have used the top of the latest candle at 274, to mark the top of a new short-term trading range. The MACD is positive while the Stochastics are neutral. Money flow is currently a positive for the markets. I am now using a trading range with support at 270 and resistance level around 274. * - The market may have a good advance today on the China trade news. Will the rally hold or test the 273/274 level? In the longer term chart, we are still looking at a large declining triangle. Recently we broke above the declining tops line. I marked 270-275 as the latest range or congestion area to watch. Nasdaq Composite +6.5% YTDRussell 2000 +5.9% YTDS&P 500 +1.5% YTDDow Jones Industrial Average UNCH YTD 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, we may add additional analysis/observations during the trading day in the comments.