arusanj001
Long

SPY still making higher Highs..stay Bullish

AMEX:SPY   SPDR S&P 500
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             .
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