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 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 on SPY .