SPY is still holding the 50dma, and making higher highs and so has the other indices like the IWM, QQQ and DIA. that being said, the Biotech Sector (IBB) is the only sector that one should be weary of, as it has been making lower lows in the intermediate term. It seems as though there is a bit of sector rotation going on. I remain bullish on all the indices, but will stay away from the Bitoech sector until we can get a bit more clarity of the direction. For now i remain Bullish on SPY.