In the race to predict the next major market top, analysts are outdoing themselves in painting a bearish picture for U.S. equities. And while there are admittedly a few signs that could be used to justify a bearish stance, the overall weight of technical and fundamental evidence still support the bullish case for stocks. In today’s report I’ll make the case that before the market’s next top is in we should see a rotation out of defensive plays, including utilities, Treasury bonds, and gold. Until investors abandon these defensive positions in favor of riskier assets,