Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Tuesday's action: Stocks stumbled out of the gate on Tuesday, but strengthened as the day wore on, ending higher for the second day in a row. The S&P 500 was down as much as 0.4% early, but finished with a gain of 0.4%, closing a tick below its session high. News to keep in mind Wednesday morning: Markets are slightly higher in pre-market tradingAt 7:45am ET - Dow futures vs fair value: +5.00. S&P futures vs fair value: +0.25. Nasdaq futures vs fair value: +4.50. Russell 2000 futures vs fair value: -1.00.Keep an eye out for any trade headlines or political risks Today's Economic Calendar7:00 MBA Mortgage Applications8:30 Producer Price Index10:00 Atlanta Fed's Business Inflation Expectations10:30 EIA Petroleum Inventories12:45 PM Fed's Reserve Gov. Lael Brainard: Economic and Monetary Policy Outlook1:00 PM Results of $23B, 10-Year Note Auction2:00 PM Fed's Beige BookThe SPY charts are pictured below. The first is a 4-month chart followed by a longer-term 9-month chart. The markets were higher on Tuesday. The MACD lines have crossed down. The Stochastics are neutral. The Money Flow is currently a positive. The 200-day moving average is looking strong and steady. 287 on the SPY may become a support level. The MACD appears to be starting down, but the 200-day MA and the Money Flow are showing strong momentum as the Stochastics are cycling back up. We are expecting the trend of higher lows and higher highs since April to continue. On dips or pullbacks, we may look to add to some positions while keeping an eye out on the trade wars and politics headline risks.On the 9-month chart, a nice channel featuring higher lows since April has been shown. This trend/pattern has remained strong. At worst we expect any pullbacks will not break the channel's lows.Nasdaq Composite +15.5% YTDRussell 2000 +11.9% YTDS&P 500 +8.0% YTDDow Jones Industrial Average +5.1% YTDDisclosure: 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.