Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Wednesday's action: Nov. 27, 2019Dow 28163.91 +42.32 (0.15%)Nasdaq 8705.16 +57.24 (0.66%)SP 500 3153.63 +13.11 (0.42%) The S&P 500 (+0.4%), Nasdaq Composite (+0.7%), and Dow Jones Industrial Average (+0.2%) closed at new record highs. The S&P finished up 13 points. There was relative strength in the mega-cap stocks on lighter than usual holiday trading volume. News to keep in mind Thursday morning: Futures trade vs fair value were a bit lower late last night on trade deal fears as the Hong Kong democracy bill was passed by the U.S.Dow -57, S&P -5, Nasdaq -20, Russell -5.The biggest factors in the market right now are; the Global Economy, China trade talks, Fed speak, and the US Treasury markets.Keep an eye on the VIX - The CBOE Volatility Index is under 13, this is a risk on level. Very low reading.CHINA TRADE WAR is still something to be aware of. Today's Economic Calendar:None scheduledTHE 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 higher again on Wednesday making new all-time highs AGAIN! The Money Flow remains very positive as we remain well above any of our support levels. In fact, 310 has been added as a possible level of support. 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 all three 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. The Vix is under 13, which is risk on for the markets. The MACD is positive. The Stochastics are neutral/high. The Money Flow is very positive. 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 (302.08)(+.31) and the 200-day MA (290.47)(+.22) On the 9-month chart below, we have broken out to new highs with the previous tops line near 302.50 marked as our support level. We remain in an uptrend channel, but be aware at the top end of the channel. use caution as we have poked above the top of the channel, in many cases we bounce back down into the channel. Nasdaq Composite +31.2% YTDS&P 500 +25.8% YTDRussell 2000 +21.2% YTDDow Jones Industrial Average +20.7% YTD $SPY $QQQ $IWM