According to Dow Theory - Bear Market

[UrmaBlume]

According to basic Dow Theory we are in a Bear Market when the market makes lower highs and lower lows as demonstrated in the chart below.

While the theory is dated, current fundamentals, technicals and the increasing shorting by professionals all lend credence to the chart below which plainly says BEAR.

Can anyone make a technical or fundamental case that this is a bull market? The pros have been huge shorts for months, I agree.