Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Tuesday's action: The S&P 500 gained 8 points on Tuesday, adding to the good start to this week. Softening inflation data, low U.S. Treasury yields, and leadership from Apple ($AAPL 180.91, +2.01, +1.1%) and Alphabet ($GOOG 1193.20, +17.44, +1.5%), helped the market overcome continued weakness in Boeing ($BA 375.41, -24.60, -6.2%).News to keep in mind Wednesday morning: Futures trade vs fair value were lower late last night. Dow -58, S&P -5, Nasdaq -11, Russell -5.The China trade war news and Fed watching are still the 2 biggest issues to keep an eye on.Keep an eye on the VIX - The Vix is still in the teens, which is "risk on" for the markets. We are staying above the 200-day moving average on the S&P 500 - This level is now support.Today's Economic Calendar: 7:00 MBA Mortgage Applications8:30 Durable Goods8:30 Producer Price Index10:00 Atlanta Fed's Business Inflation Expectations10:00 Construction Spending10:00 E-Commerce Retail Sales10:30 EIA Petroleum Inventories1:00 PM Results of $16B, 30-Year Note AuctionQuick Notes: (none)THE CHARTS: The markets were mixed on Tuesday. As I have been writing here for a while: "Do keep in mind 280 is major resistance line." This level will be a tough fight. We are stuck just under this level again. We are still above the 50-day moving average AND the 200-day moving average now. Both MAs are also rising. This is a good sign for the market technically when the moving averages are all headed in an upward sloping direction. In addition, we are heading towards a "golden cross" as the 50-day is poised to cross back above the 200-day. The MACD is neutral. The Stochastics are neutral. The Money Flow is a slight positive. I see us in a trading range. 280 the resistance and the 200-day MA near 273 is the support. The 50-day MA (268.26)(+.63) and the 200-day MA (273.11)(+.05) are both support levels. On the 9-month chart below, the previous patterns are behind us. Shown now IS the resistance level at 280. Support is found at 270. We appear to be in a 270-280 trading range until 280 can be broken to the upside. Russell 2000 +14.9% YTDNasdaq Composite +14.4% YTDS&P 500 +11.4% YTDDow Jones Industrial Average +9.6% YTD NOTICE: The Russell 2000 (IWM) is leading the market higher so far this year, outperforming the larger averages.$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.