I don't think being a 'permabear' is very good thing to be, you...

I don't think being a 'permabear' is very good thing to be, you limit possibilities to earn, you can on short so much, but a long position could be limitless. But in the current environment with interest rates going higher, pressure on energy inflation and issues still associated with the post pandemic world, I can't see it as the sensible choice to be risk on, as we have seen with the current rallies.
These 2 charts really give me the feeling I need to be cautious.
the first is the dow to gdp ratio:

and the 'buffett indicator' Wiltshire5000 to gdp:

while some would argue that using GDP is not a good metric for comparing the stock market to, but it clearly shows on both charts when the going get tuff the values return to the mean. But at the same time looking at the buffet indicator, in the 1960s the indicator stayed well elevated for long periods of time....As a midterm view(from now to the end of the year) I would say the probability of a new bull market in ASX and US stocks is lower than a drop in prices from where we currently stand.
But like everything im sure there is shadiness and games that will keep us guessing.