Brief Recap and Updates on the MarketsSPY Charts and some Technical AnalysisIn Tuesday's action: Stocks ended up a bit higher on Tuesday as the S&P 500 broke above the 2,800 level. After a lower open, the market rose for the rest of the session. News to keep in mind Wednesday morning: Markets are slightly lower in pre-market tradingAt 8:10am ET - Dow futures vs fair value: -13.00. S&P futures vs fair value: -2.75. Nasdaq futures vs fair value: -11.50.The VIX is little changed in pre-market tradingKeep an eye out for any trade war headlines and earnings reportsToday's Economic Calendar 7:00 MBA Mortgage Applications8:30 Housing Starts10:00 Powell to deliver the semi-annual monetary policy testimony before the House Financial Services Committee10:30 EIA Petroleum Inventories2:00 PM Fed's Beige BookThe SPY charts are pictured below. The first is a 3-month chart followed by a longer-term 9-month chart. We broke above the 280 level! The MACD lines crossed up and are positive. The Stochastics are now showing overbought. The Money flow is currently a positive for the markets. This morning's pre-market activity points to a flat open. The Stochastics are showing overbought, but the positive moves of the MACD and Money Flow show strong market momentum. At worst, I expect the SPY to stay in a 273-284 trading range. On the next dip/pullback, we may look to add to some positions while keeping an eye out on the trade wars and politics headline risks.In the longer term chart, we are now marking a trading range of 273-284. We would add to positions at the bottom of this range or take some profits at the top of this range. Note: The break above 280 is very significant.Nasdaq Composite +13.8% YTDRussell 2000 +9.9% YTDS&P 500 +5.1% YTDDow Jones Industrial Average +1.6% 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.