Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Tuesday's action: The S&P 500 gained 24 points on Tuesday after the U.S. Department of Commerce granted Huawei a 90-day license to work with U.S. companies so it can service existing networks and mobile devices. This may help to calm tensions between the U.S. and China. News to keep in mind Wednesday morning: Futures trade vs fair value were near unchanged late last night. Dow +4, S&P +0, Nasdaq -1, Russell -1.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 spiked again last week, but did has dropped back into the mid-teens.CHINA TRADE WAR is back on - Shaking up the markets. Today's Economic Calendar: 7:00 MBA Mortgage Applications10:00 Fed's Williams Speech10:10 Fed's Bostic Speech10:15 Fed's kaplan Speech10:30 EIA Petroleum Inventories2:00 PM FOMC minutesQuick Notes: (none)THE CHARTS: The markets were higher on Tuesday. The technicals are a bit weak still. The MACD is appearing to halt it's decline. The Stochastics are at neutral, and the Money Flow is barely positive. We are also just below the 50-day moving average. Our strong support level is still holding up. As long as we stay above 280 on a closing basis we should be okay going forward. Currently I see us bouncing around in a 280-290 trading range. The MACD is trying to bottom out. The Stochastics are neutral. The Money Flow is barely positive. The 50-day MA (286.63)(+.19) and the 200-day MA (275.48)(+.05) On the 9-month chart below, the previous patterns are behind us. Shown now are the support levels at 280 and the resistance at 290. We may stay in a 280-290 trading range for awhile. Nasdaq Composite +17.3% YTDRussell 2000 +14.6% YTDS&P 500 +14.3% YTDDow Jones Industrial Average +10.9% 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.