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. 2020 Jul 16;159:120195. doi: 10.1016/j.techfore.2020.120195

Table 2.

Bull and bear market phases.

Market Phase Period
Bear 4/1/2000 - 11/10/2000
Bull 12/10/2000 - 12/1/2004
Bear 13/1/2004 - 17/5/2004
Bull 18/5/2004 - 29/10/2007
Bear 30/10/2007 - 29/10/2008
Bull 30/10/2008 - 1/8/2011
Bear 2/8/2011 - 4/10/2011
Bull 5/10/2011 - 21/5/2013
Bear 22/5/2013 - 3/1/2014
Bull 4/1/2014 - 13/2/2015
Bear 14/2/2015 - 7/1/2016
Bull 8/1/2016 - 24/1/2018
Bear 25/1/2018 - 27/12/2018
Bull 28/12/2018 - 1/7/2019
Bear 2/7/2019 - 31/12/2019