Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Tuesday's action: The S&P 500 gained just 1 point on Tuesday, as strong performances from the financial and semiconductor stocks offset weakness in the health care and real estate spaces. The S&P was able to close above 2,900 again.News to keep in mind Wednesday morning: Futures trade vs fair value were slightly higher late last night. Dow +6, S&P +3, Nasdaq +18, 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 Vix is down in the low teens. This is a 'risk-on'level.Today's Economic Calendar: 7:00 MBA Mortgage Applications8:30 International Trade10:00 Wholesale Trade10:30 EIA Petroleum Inventories12:30 PM Fed's Bullard: U.S. Monetary and Economic Policy12:30 PM Fed's Harker: Economic Outlook2:00 PM Fed's Beige BookQuick Notes: $AAPL $QCOMApple (AAPL) and Qualcomm (QCOM) settle their royalty dispute; shares of QCOM spike on the news.Tiger's Take: Good news for both companies, but after a 30% spike in QCOM's shares it is best not to chase this.THE CHARTS: The markets were slightly higher on Tuesday. We are above the SPY 285 level, which is now support and just below the all-time highs which is resistance. So pinned between both those levels and fighting for the 290 mark. The 20-day, 50-day and 200-day MAs are all 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 positive. The Stochastics are high/overbought. The Money Flow is positive. NOTE: Due to the Stochastics being overbought, we could have short-term pullbacks, but currently they should be bought as the MACD, the Money Flow, and other technicals are all positive. Once the stochastics are no longer showing overbought I expect the uptrend to continue. The 50-day MA (279.84)(+.38) and the 200-day MA (273.73)(+.11) are both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now is the support level at 280. We are now right at the next area of resistance at 290. Above this the all-time high. Nasdaq Composite +20.6% YTDRussell 2000 +17.4% YTDS&P 500 +16.0% YTDDow Jones Industrial Average +13.4% 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.