First, a little background. Generally speaking, a bull market is when the stock market is on an upward trajectory. There are lots of ways to measure that, of course.
“You talk to people and you maybe get 10 answers as to exactly what a bull market is,” said Ryan Detrick, senior market strategist at LPL Research.
A common answer —and the one we’ll use here — is that it’s a bull market when the S&P 500 index rises by 20 percent and keeps going. If that trend reverses, and the index closes down by more than 20 percent, we enter a bear market.