for all those calling a bear market...

Give me a good reason that it is...

So far, I haven't seen any action below major uptrend lines and feel support has held not only on XJO but other major co's making up a lot of index (i.e. BHP)...

Also, most price action over past week (i.e. losses) have been on lower volumes of shares (i.e. BHP) compared to today where they have rocketed back up on large volume.

Price drop on low volume... bullish...
Price rise on high volume... bullish...

I can't understand why every third person is calling for new lows. Even if the market undergoes a sustained period of sideways/correction trading, I seem to think the long-term bullish uptrend is intact...

Yet everyone is calling a bear market?

Any good reasons, I am all ears (and just learning)

Cheers,
Funky

PS. I feel very sad for fromthefuture being short 28000 BHP overnight as they have gone up $1.50... ouch! Actually, I don't feel that sad for him, as he is convinced it's going to below $20 - I wouldn't have thought that was a particularly sensible claim even though I am just learning!