BULLISH CASE FOR THE MARKET

It can be very hard to be bullish at the bottom of a bear market. Especially when there's nothing but bad economic data and lackluster earnings reports being released almost every day. If you base your entries and exits into investments based off of the fundamentals of companies and the current macroeconomic environment than I can understand how one could be bearish. But if you base your entries and exits of your investments off of technical trends and technical analysis then you might be quite bullish right now at least in the short term.
So where is the bottom? Why are we ripping with all of this bad economic data and lackluster earnings reports? Did the market price in too much downside anticipating a huge recession? I don't know. But let's analyze the markets to possibly provide some confidence in the case that we might go bullish.
VIX Breakdown
If you know about the VIX then you know when VIX goes down the market goes up generally. And the VIX also follows technical levels quite well at times. In the chart directly below you can see how VIX is breaking down below a major uptrending support that has held it up during the entire bear market downturn since last November. I've been calling it the bear market support. This is a very bullish notion for the markets. But always remember that VIX can turn on a dime with any bad news or macroeconomic event. So I've said it many times before and I'll say it again, "always keep one eye on the VIX."
$VIX Index Futures(MAR5) (VXmain.US)$

SPY Futures Bottoming Patters
Is SPY forming a bottom? when you look in the truck directly below you can see the weekly candles. you can see how the past two weeks by has broken above a short-term downward training resistance. this was a bullish notion of course. I saw a lot of people calling it out on this platform. While many others were still calling for heavy bearishness.
currently spy Futures are just beneath a horizontal resistance level. we could reject here. but with all this bullish momentum I think we might break above it. and technically spy is still in a downtrend until we break above that longer term down training resistance you can see above by Futures current price. but by the time we reach that resistance on spy will have already risen quite a bit and we will all have missed out on a lot of gains.
$E-mini S&P 500 Futures(MAR5) (ESmain.US)$

Major Cryptocurrencies and Altcoins Have Been Rallying Especially Hard
Cryptocurrencies have had it especially hard along with tech stocks during this bear market downtrend. With all of these cryptocurrencies collapsing and exchanges dissolving into illiquidity many investors have completely lost faith in cryptocurrencies. I've experienced a few crashes in cryptocurrencies during my investing journey. And each time cryptocurrencies came back with the vengeance and greatly outperforms their all-time highs. And coincidentally everyone that lost faith and the past were saved again as they all jumped back into cryptocurrencies as they were rallying extremely hard.
Just check out the gains on some of these major cryptocurrencies. These are numbers just from today. Their weekly numbers look amazing!
One thing I must mention is something that I've learned when investing in cryptocurrencies. Never buy at the high. Wait for a dip. Because the volatility in cryptocurrency is insane. And you will get stopped out when it starts running down. And then it will skyrocket and you will be pissed because you would have made money.
$Bitcoin (BTC.CC)$ $ETC (ETC.CC)$ $Ethereum (ETH.CC)$ $Polygon (MATIC.CC)$ $Litecoin (LTC.CC)$

Aggregate Market Reaction to Earnings and Economic Data
During the steep downtrend of the bear market that started last November participants in the market did not react well to bad economic data releases or bad earnings reports. Any miss on earnings or revenue was greatly punished and if the company provided no future guidance or lower future guidance they were punished even further. Every sector of the market felt the pain even if they had record breaking earnings like much of the semiconductor industry did.
That trend of bad market reactions seems to have ended with these past Banks earnings. The first group of banks that reported had a bad reaction from the market. It felt exactly like the bad reactions we were receiving during the bear market downtrend. But the next group of banks earnings greatly lifted the markets along with several other earnings reports that followed. Microsoft even had lackluster earnings but a stronger guidance and their stock skyrocketed in after hours during their earnings call after initially tanking off of the bad EPS and revenue. Even more recently we had bad GDP numbers and an interest rate hike during the same day and the market rallied really hard. Will these positive reactions to earnings and economic data continue? I don't know. All I can do is follow the technical trends.
Correlating Macroeconomic Indicators
another good way to develop a good idea of the possible direction the market will move is by analyzing the macroeconomic indicators. you can do this through analyzing futures markets, forex markets, commodity markets, etc. Here are a few examples below of tickets symbols that follow the macroeconomic environment with clear and tradable technical trends which makes it easy to analyze.
Directly below is a ticker symbol that tracks the movements of the dollar Index. You can see how it is near a very long term and very strong resistance level. If the dollar Index starts to come down we will see this ticker come down as well. And generally speaking when the dollar comes down the market goes up.
$Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf (UUP.US)$

We can also look to Gold futures for confirmation in the falling dollar. Typically when the dollar is losing value you will see gold increase in value. This is just a small piece of the puzzle to show us that the dollar might continue its fall.
$Gold Futures(APR5) (GCmain.US)$

There is one non correlating aspect of the major macroeconomic indicators that worries me. Typically the Treasury bond market travels in the opposite direction of the broader equity markets. Basically if SPY goes up then the treasury bond market is going down. During this bear market the bond market was crashing and the equity markets were crashing together. this does not normally happen. It could possibly be the reason why the bond market and the equity markets are going up at the same time. But when you look at this chart directly below of TLT then you can see that TLT's price is still in the technical downtrend and it is not breaking above the short-term resistance. And I should mention that I would not be surprised if we see bonds climb with equity markets in the near term. This is because treasury bonds have had their worst downtrend in history basically. They've got to recoup some of those losses before we can get the macroeconomic indicators correlating properly.
$iShares 20+ Year Treasury Bond ETF (TLT.US)$

The Return of Tech Stocks
$Apple (AAPL.US)$ $Microsoft (MSFT.US)$ $Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $Meta Platforms (META.US)$ $Netflix (NFLX.US)$ $Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ $Advanced Micro Devices (AMD.US)$ $Amazon (AMZN.US)$
Tech stocks have had the worst during the bear market. They ran much more to the downside than any other sector. this is possibly the reason why they are outperforming to the upside while the market is rallying. I expect this out performance to continue if this rally will continue.
Conclusion
Technically speaking we are still in a downtrend. And macro economically speaking things still do not look good. But the picture is getting better. And in my experience investing over the years I have noticed that the market prices in the future. And when the bottom happens every time it feels like it's too early because of this reason. I should also mention that the most bearish news occurs every time at the bottom of the market. By the time regular investors realize it was the bottom of the market, the market has already rallied 10% to 20% or even more. If you are a retail trader like me then it is almost impossible to call the bottom without some fancy million dollar algorithmic supercomputer. But you can use technical analysis and the macroeconomic information available to you to give you a good idea of a possible bottom. Whether it was the bottom or not who knows. All I know is that the technical levels are telling me I need to get on this uptrend until we get another major macroeconomic market moving catalyst. And always remember the market does whatever it wants. So this bullish appearance could flip to bearish at any time. Just watch your technical levels for trend breakouts or breakdowns.
So what will it be people? Are you going to flip bullish or are you still bearish?