IBD still sees market up-trend under pressure. The GMI is still on a Buy signal from January, but is holding to a middle 3 our of 6. The new QQQ short term down-trend must reach at least 5 days for me to be more confident about it. Interestingly, the IWM, Russell 2000 ETF , seems to be showing a lot of relative strength, having just broken above its green line top to an all-time high. Clearly, small-cap stocks are out-performing large-caps right now.
Here is the GMI table. The SPY has now closed below its 10 week average.