The S&P has broken above the 200 day moving average at around 930, breaking out of the month long trading range between 875 and 925. That is on top of the market breaking out of the 825 to 875 trading range in early May. Now in early June we are breaking out again. Yet there are a lot of bears calling this a sucker's rally or a bear market rally with lots of potential downside. That would give me the absolute chills being short a rising market with a lot of bearish skepticism. We are either going to churn sideways or go up, but the downside will be limited until I see a lot more bullishness. TheStreet.com market sentiment poll today showed a lot of bearishness despite the rally last week. I would not be short here.