Who cares? People are always concerned whether we are in a bull market or a bear market as if it makes a difference. The only person to whom a bull or bear matters is your Great Aunt Tilly and that's because she is locked into a longterm commitment with AT&T and her broker won't get her out because he's afraid he'll be sued for churning. Which he will.
If you are concerned whether it's a bull or bear market then shame on you. If you can't make money in the market regardless of its overall trend then you are dumb ass loser and you should reconsider your career choices.
Now that I've lost my only reader (goodbye Mom) I'll 'splane myself. Let's take Friday August 4, 2006 as a prime example. Here is what the DIA looked like on that date.
You see it gapped up and strong. That is your first indicator of trouble ahead. The DIA reflects the market and the market can't sustain a gap like that. It will collapse under its own weight. Pick a stock any stock and go short. How about EXPD.
It's not difficult to see a top forming at 10:30 while the DIA is flashing a resting doji. So you short it at 43.20 and you watch it all day and at 3:15 when you see the DIA print an impulse candle you close your trade at 40.60. Let's see - that would be $2.60 per share. Not a bad return for 4 and 1/2 hours work.
Same day different direction. Here is QSII. Same day as those above.
Same day different direction. Point is - doesn't matter which way the wind is blowing you can get the boat to shore. Some days it's a little more difficult than others but it can be done.
All charts copyright prophet.net - an excellent site. I get nothing for this endorsement so try them out - they don't even know who I am.