“We’re Not in Bear Market Yet”
Despite the major selloff, however, the market is not yet in “bear” market territory. A bear market is defined as a drop of at least 20% off the recent high. The Dow closed at 14,164.53 on Oct. 9, and ended Thursday down 19.1% from that peak.
It’s just a technicality at this point. Just declare the bear market already, CNN!
Even though people are expecting “an oversold bounce” tomorrow, is anyone really brave enough to buy ahead of the weekend?