Bear

Richard Russell of Dow Theory Letters:

"TODAY'S MARKET ACTION -- Not good. The Dow gave us a key reversal -- new high and then closing lower on rising volume... It's a bit early to jump to conclusions, but I haven't liked the market action the last few days. There's been an amazing amount of complacency, along with gathering optimism. The Transport's lack of confirmation has been completely ignored, and as has been the lack of volume on the most recent rise."

Couldn't have said it better myself.