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Definition

The overall long-term trend of the share market as a whole. The primary trend is either bullish (up) or bearish (down) separated by periods of indecisiveness where the market moves sideways, oscillating between resistance and support levels. Bull and bear trends can last for between 18 months and ten years. They are broken by corrections and rallies which usually last two to four months. During a primary bull market 80% of the shares on the JSE are rising and vice versa - so it is wise to remain out of the market during a bear trend.

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