![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgIFkK_jXef5dwgwFeLkxvxM8fpxapjyUT25WAHlfaEsX-dGVsOxnupMmLGReBS-nuSDRXZ2OXMottrMuvRQpVE_w8xgGKR4HCKUSNglEof0pnHfvDctQl0vD3Bt1uSi-m5bzZC-sxeQDM/s320/market+trends.jpg)
Bear Markets of the German DAX index
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYrx28Sf8IR8g9itqY9EMnqgMVoWoc4X8JYvAbGd9kpWf0LLrEnIo0lE94MvfbIA223-O70-9GtbmtaL2Uergw9jtZAEDPhhkfuggEhCLUA_v_n6dSAjH4WjQ71jx5JhMcTuXE66S4kwU/s320/dax_02092007_bear+markets.gif)
Bear markets are shown below. Decision point is using 6 and 10 MA (weekly 17-43MA, daily 20-50MA) average on the long term charts to identify bear markets[1][2].
Major bull and bear markets result from fundamental changes in supply and demand[3]. Long term(primary) trends are driven by fundamental factors.
See:
[1] http://www.decisionpoint.com/TAcourse/TAcourseIntro.html
[2] http://www.pring.com/movieweb/KST_MCM.htm
[3] Trading for a living, Dr. Elder, p.65
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