Bearish

adj. resembling a bear, ursine; (Economics) in a "bear market" condition, in a state of falling stock prices

In investing, financial markets are commonly believed to have market trends that can be classified as primary trends, secondary trends (short-term), and secular trends (long-term). This belief is generally consistent with the practice of technical analysis and broadly inconsistent with the standard academic view of financial markets, the efficient market hypothesis.
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Adjective
1. expecting prices to fall
(similar) pessimistic
(classification) stock exchange, stock market, securities market

(a.)
Partaking of the qualities of a bear; resembling a bear in temper or manners.
  

When market prices tend to go lower, the market is said to be bearish. Someone who expects prices to trend lower is "bearish."