Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Tuesday's action: The stock market finished slightly lower on Tuesday, with the S&P 500 declining 1 point. The markets started higher early on but faded as the day went on as we are short-term overbought. News to keep in mind Wednesday morning: Futures trade vs fair value was slightly lower late last night... Dow -6, S&P -1, Nasdaq -9, 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 CBOE Volatility Index is back down in the mid-teens.CHINA TRADE WAR is still an ongoing concern. Today's Economic Calendar:7:00 MBA Mortgage Applications8:30 Consumer Price Index10:00 Atlanta Fed's Business Inflation Expectations10:30 EIA Petroleum Inventories1:00 PM Results of $24B, 10-Year Note Auction2:00 PM Treasury Budget Quick Notes: $BYNDShares of Beyond Meat (BYND 126.04, -42.06) were pummeled, losing 25.0% after the stock was downgraded to Neutral from Overweight at JP Morgan with a price target of $121.TIGER'S TAKE: I look for this to drop much more, as it is greatly overvalued and over hyped. 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 were slightly lower on Tuesday, but well lower than the market opened up at. This leaves us with a nasty big red reversal candle on the charts. We still point out that 290 is strong resistance and we have gotten short-term overbought after the big bounce up move from 273 to 291 in just 6 days. Our strong support level is at 280 and our strong resistance level is at 290. So for now, a big 280-290 trading range.The MACD is turning up. The Stochastics are high/overbought. The Money Flow is slightly positive. The 50-day MA (287.00)(+.13) and the 200-day MA (275.61)(+.03) On the 9-month chart below, the previous patterns are behind us. Shown now is the re-established support level at 280 and the resistance at 290. Nasdaq Composite +17.9% YTDS&P 500 +15.1% YTDRussell 2000 +12.7% YTDDow Jones Industrial Average +11.7% 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.