Are there patterns to market cycles? If there are, we could adjust our investing strategy to exploit such patterns. However, the data don’t show any clear patterns. Take the historical record of the Sensex from June 1991. We could count bull markets, from 52-week lows to the successive record peaks. Vice versa, we can count from peaks to lows for bear markets. In these 26 years, there have been seven big bull markets, including the current one, and six big bear markets. The longest bear market could, in some sense, be said to have lasted 50 months starting September 1994.
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