I don't like being bearish. I'm an optimist by nature and like to see things rising. It also says something about my journey as a trader, as I started investing in 2008, at the feet of the financial crash, so I'm used to buying dips and riding upwards.
Yet, I find bear opportunities plentiful in forex - EURUSD, GBPUSD, AUDUSD. I'm also bearish commodities like Gold, Silver, Copper and others. I'm bearish Emerging Market funds, such as EEM, the London housing bubble via SVS, and of course, cryptocurrencies BTCUSD, ETHUSD, LTCUSD and so on.
With so much bear bias, it leaves me questioning my bearishness in equities. But when I see potential head and shoulders formations in DAX, for example, and other technical formations that threaten downside breaks, such as the Nikkei and EuroStoxx, it's difficult not to bring a bearish bias to US equities.
Yet, for now, the market is telling us it wants to move higher. The dip last week was well bought, producing a further rally. We could be looking at a further consolidation for a few months, before moving higher. I do not see a reason to short this market. Only a sustained move below trendline support would shift my bias.