Brief Recap and Updates on the MarketsSPY Charts and some Technical Analysis In Wednesday's action: August 28, 2019 Dow 26036.08 +258.20 (1.00%)Nasdaq 7856.91 +29.94 (0.38%)SP 500 2887.94 +18.78 (0.65%)Stocks ended higher on Wednesday in a broad-based advance. The S&P 500 gained 18 points, overcoming a negative start that was due to declining Treasury yields and finished near session highs. The were no specific news catalysts on the day. News to keep in mind Thursday morning: Futures trade vs fair value were slightly lower late last night... Dow -55, S&P -8, Nasdaq -30, Russell -5.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 just under 20 as it dropped a bit Wednesday as the market rose. It is still a bit high, but not at a big panic level.CHINA TRADE WAR is still an ongoing drama! Today's Economic Calendar: 8:30 Initial Jobless Claims8:30 International Trade in Goods8:30 Retail Inventories (Advance)8:30 Wholesale Inventories (Advance)8:30 GDP Q28:30 Corporate Profits10:00 Pending Home Sales10:30 EIA Natural Gas Inventory1:00 PM Results of $32B, 7-Year Note Auction4:30 PM Money Supply4:30 PM Fed Balance SheetTHE 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 ended higher on Wednesday in a low volume advance. There were only minor changes to the charts. The Money Flow went from a slight negative to neutral. There were no decisive moves on any of the indicators, in fact we are stuck with almost neutral everything. We still reiterate the note above, as the charts mean a bit less when a tweet or news item jolts the market without notice. *Repeating* - Due to MANY different geopolitical concerns / global growth concerns we are remaining cautious. (Meaning not starting any new large long positions, taking some profits.) Our strong support is at 282 now. The 294 level shows up as a point of strong resistance just above where we are now. With all the up and downs lately, we are still in a 282-294 trading range, with a midpoint line at 288. My current opinion is we are range bound until some certainty/direction is seen. So we are in a 282-294 range inside of a larger 280-300 range. * Look for the MACD to bottom, that could mark a good buying point. * (Cancelled for now). The MACD is neutral. The Stochastics are neutral. The Money Flow is neutral. The 50-day MA (294.06)(-.04) and the 200-day MA (278.36)(+.06) On the 9-month chart below, the previous patterns are behind us. Shown now is the support level at 280 and the top just over the 300 level. We are in a 280 to 300 trading range for now. Nasdaq Composite +18.4% YTDS&P 500 +15.2% YTDDow Jones Industrial Average +11.6% YTDRussell 2000 +9.2% 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. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page With our Daily Trackdowns, check back for additional analysis/observations during the trading day in the comments by us or our readers.