the first bull market: from December 19th, 199 to May 26th, 1992 (96.5~1429) (13.8% after one and a half years);

The first bear market: May 26th, 1992 ~ November 17th, 1992 (1429~386) (half a year,-73%); The second bull market: November 17, 1992 ~ February 16, 1993 (386~1558) (three months later, 33%); The second bear market: February 16, 1993 ~ July 29, 1994 (1558~325)(17 months,-79%);

the third bull market: July 29th, 1994 ~ September 13th, 1994 (325~152) (one and a half months, 223%);

the third bear market: from September 13th, 1994 to May 17th, 1995 (152-577) (eight months,-45%);

The fourth bull market: May 18th, 1995 ~ May 22nd, 1995 (582~926) (three days, 59%);

The fourth bear market: May 22, 1995 ~ January 19, 1996 (926~512) (eight months,-45%);

the fifth bull market: January 19th, 1996 ~ May 12th, 1997 (512~151)(17 months, 194%);

The fifth bear market: May 12, 1997 ~ May 18, 1999 (151~125) (two years,-33%);

The sixth bull market: May 19th, 1999 ~ June 14th, 21 (147~2245) (more than two years, 114%);

the sixth bear market: from June 14th, 21 to June 6th, 25 (2245-998) (more than four years,-55.5%);

the seventh bull market: from June 6, 25 to October 16, 27 (998-6124) (two and a half years, 513%);

the seventh bear market: from October 16th, 27 to October 28th, 28 (6124-1664) (one year,-73%);

the eighth bull market: from October 28th, 28 to August 4th, 29 (1664~3478) (more than nine months, 19%); The eighth bear market: from August 4, 29 to December 4, 212 (3478-1949) (more than three years,-39%);

the ninth bull market: from December 4, 212 to February 18, 213 (1949-2444, 23.56%);

the ninth bear market: February 18th, 213 to June 25th, 213 (2444-1849) (more than four months,-19%); Tenth bull market: June 25th, 213 ~ September 12th, 213 (1849~227) (more than two months, 15%);

the tenth bear market: from September 12, 213 to March 12, 214 (227-1974) (six months,-11%);

the 11th bull market: March 12, 214 to June 12, 215 (1974-5166) (three months a year, 162%);

1. The so-called "bull market", also known as bull market, refers to the stock market that is generally bullish and lasts for a long time. The securities market here generally refers to common stocks, bonds, futures, options (options), foreign exchange, funds, negotiable certificates of deposit, derivative financial products and other securities. Other investment and speculative markets can also be described as bull market and bear market, such as housing market, postal (ticket) market, card market and so on.

2. The market, also known as the Bear market, refers to the market with lower prices in the securities market. There are more sellers than buyers in the stock market, and the bearish stock market is called a bear market. After the bull market initially bottomed out, the box shock market consisting of several rounds of small-scale rebound market was a bear market. In the bear market, people are weak, and they are afraid of being quilted, and each one runs faster than the other. Therefore, it is difficult for strong stocks to maintain a sustained upward trend, and all they can do is to rebound the market.