One can be bearish without misstating things too. Yesterday's rally was simply not just in the indexes. And to imply that it would be unexpected or a sign of weakness for there to be a slight pullback after a four day 16% index gain strikes me as bizarre.
Your mileage may vary though.
One must balance the bulls with the bears. Weigh the opinions carefully. Find the logic in each arguement. Pick apart the discrepancies that exist.
...then, throw darts.
OK, seriously, you are speaking a temperate opinion here. And a drastically needed one. The market report is bearish. I'm neutral. I enjoy a lively discussion on the events of the market.
If you want my honest opinion, I was expecting a 100-150 DOW pullback with similar drops in NAS and S&P. I wasn't disappointed in being wrong. It appears to me that things are becoming slightly less emotional and people are again resorting to studying the fundamentals and placing thier money accordingly.
Have we hit bottom? How the heck should I know. I just know that there are enough low priced stocks out there to entice some investors to put a little of that sideline cash back into it. I think there are also enough bargains out there to cause many short-buyers to have taken their profits over the last few days and placed them on the bull side of things or at least took the sidelines. Maybe not a majority, but many.
All I know for certain is that people will be a bit more prudent over the next decade or two. Decadence will rear its ugly head again around 2020 when I sell all my securities, buy CD's, and retire. :)