Why Stock Market is Still Bearish

My favorite way of determining the strength of the stock market is looking at the Russel 2000.

After a breakdown from a long uptrend, the Russell is trapped in a descending triangle consolidation chart pattern. This means that the current markets are bearish. A breakdown below the triangle is a bearish continuation signal. A breakout above is a bullish reversal signal.

Personally, if I were a trader, I would stay out long positions in the stock market until we get a breakout above the descending trendline.