I tentatively set the end of last year's bear market to have gone through two different down cycles!
2017.12-2018.2 bear market phase I: down cycle in manic potential energy The ultimate acceleration of greed, madness, and finally the opposite of fear, is how steep the rising slope is, how fast the falling rate is!
The second phase of bear market: the decline cycle in moderate potential energy After a panic-stricken sell-off wave experienced a second sustained slump, the tepid frog!
The third phase of a bear market now - in the next three months or so: a "bounce" that reverses upward out of the monthly level, or a downward spiral that continues into the abyss?