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.