The S&P 500’s 20% gain from its October 12 closing low shows the start of a new bull market, but there is no set definition or regulatory body that declares one, leading to varied opinions among market participants. While the most commonly accepted definition is a 20% rise from a low, it is open to interpretation. Further, some analysts require a time element to their bear market criteria, necessitating a low to remain intact for at least seven months, to remove the risk of a rapid reversal. Finally, various other viewpoints exist on what constitutes a bull or bear market, with no consensus reached yet.
