It’s a bull, it’s a bear, it’s a — what? You may have heard these terms thrown around in reference to what the stock market is currently doing. In short, a bull market is one that is on the up-and-up, whereas a bear market is on the decline.

So, which one are we in now? As it turns out, the bull and the bear are not so easy to spot — at least not in the moment. While these terms are “often misused as a prescription for the future,” in actuality, they are intended to describe market conditions that have come and may already be gone, said The New York Times .

What is a bull market?

A ‘bull market’ refers to a market that is “on the rise and where the conditions of the economy are generally favorable,” said Investopedia . Commonly, this rise is “defined as a 20% or more increase” i

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