Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Tuesday's action: The S&P 500 finished flat on Tuesday in a lackluster trading session. Price action was relatively muted for most of the day as the market digests the big gains from the previous two trading days.News to keep in mind Wednesday morning: Overnight story by FT about the China trade talks going well.Futures trade vs fair value were slightly higher late last night - Dow +47, S&P +7, Nasdaq +34 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 Vix is now down in the 13s. This is a 'risk-on' level.Today's Economic Calendar: 7:00 MBA Mortgage Applications8:15 ADP Jobs Report8:30 Fed's Bostic Speech9:45 PMI Services Index10:00 ISM Non-Manufacturing Index10:30 EIA Petroleum Inventories5:00 PM Fed's Kashkari SpeechQuick Notes: $WBA $FBThe Dow Jones Industrial Average lost 79 points, weighed down by Walgreens Boots Alliance (WBA 55.36, -8.13, -12.8%) after it issued disappointing earnings results and guidance.The Nasdaq Composite gained 19 points, boosted by Facebook (FB 174.20, +5.50, +3.3%) after it received some positive comments from Deutsche Bank regarding its e-commerce potential.THE CHARTS: The markets were mixed on Tuesday. We are now well above the SPY 280 level, which now becomes support. The 285 Top line is now where the next fight is taking place. Both the 50-day and 200-day MAs are rising. This is a good sign for the market technically when the moving averages are all headed in an upward sloping direction. The MACD is neutral - and appears to be trying to make a cross upwards. The Stochastics are neutral. The Money Flow is a slight positive. We have finally broken out to the upside over the last 2 days, now the test in will we hold it? The 50-day MA (275.15)(+.41) and the 200-day MA (272.79)(+.06) are both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now IS the support level at 280. Next support level is the 200-day moving average near 272.80 and the next area of resistance to fight is at 285. Above that 290 resistance is waiting to be tested. Nasdaq Composite +18.3% YTDRussell 2000 +15.2% YTDS&P 500 +14.4% YTDDow Jones Industrial Average +12.2% YTD$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.