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 non-scientific practice of Technical analysis and broadly inconsistent with the efficient markets hypothesis.
A Bull market is a prolonged period of time when prices are rising in a financial market faster than their historical average, in contrast to a Bear market which is a prolonged period of time when prices are falling.
Investors can be described as having bullish or bearish sentiments. Market trends are witnessed when bulls (buyers) outnumber bears (sellers), or vice versa, consistently over time. In general, a bull or bear market refers to the market and sentiment as a whole but it can also be used to refer to specific securities, sectors, or similar ("bullish on IBM", "bullish on technology stocks" or "bearish on gold", for example).
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