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The document defines bull and bear market start and end conditions based on 20% threshold moves from prior lows and highs, and summarizes average durations and outcomes. It also provides total return and annualized return figures alongside recession, bull market, and bear market periods. Disclosures note that results are for illustrative purposes, past performance is no guarantee, and no direct investment is possible in an unmanaged index, with additional regulatory and risk statements.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":11,"@type":70,"position":76},"https://docshare.wps.com/template/presentations/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/history-of-us-bull-and-bear-markets-daily-returns-since-1942-chart-overview/565076/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/history-of-us-bull-and-bear-markets-daily-returns-since-1942-chart-overview/565076.png","ImageObject",442,249,{"name":88,"@type":89},"Riley","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-23","2026-10-12",true,{"@type":98,"interactionType":99,"userInteractionCount":47},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"How does the chart define a bull market?","Question",{"text":108,"@type":109},"A bull market runs from the lowest close after the market has fallen 20% or more, to the next market high.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How does the chart define a bear market?",{"text":113,"@type":109},"A bear market occurs when the index closes at least 20% down from its previous high close, through the lowest close after it has fallen 20% or more.",{"name":115,"@type":106,"acceptedAnswer":116},"What major disclaimers are included about the returns?",{"text":117,"@type":109},"The document states the chart is for illustrative purposes only, past performance is no guarantee of future results, index returns do not reflect fees or charges, and the information is not investment advice.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},565076,1792285004,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":8,"category_name":11,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":47,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":9,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":4},1374391975076,"https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051","History of U.S . Bear & Bull Markets  \nDaily Returns Since 1942  \nThis chart shows daily historical performance of the S&P 500 Index throughout the U.S. Bull and Bear Markets since 1942. We believe looking at the history of the market’s expansions and recessions helps to gain a fresh perspective on the benefits of investing for the long-term.  \n• The average Bull Market period lasted 4.4 years with an average cumulative total return of 153 . 1% .  \n• The average Bear Market period lasted 11.1 months with an average cumulative loss of-31 .7% .  \nBULL  \nFrom the lowest close reached after the market has fallen 20% or more, to the next market high.  \nBEAR  \nWhen the index closes at least 20% down from its previous high close, through the lowest close reached after it has fallen 20% or more.  \nS&P 500 Index Total Return ( Logarithmic Scale)  \n10  \n1  \n0.1  \n4.1 Yrs  \n157.7%  \n26.1%  \n7.1 Yrs  \n267.1% 20.0%  \n1.1 Yrs  \n23.9%  \n22.1%  \n4.1 Yrs  \n86.4%  \n16.2%  \n3.6 Yrs  \n79.8%  \n17.6%  \n2.1 Yrs  \n48.0%  \n20.1%  \n2.6 Yrs  \n73.5%  \n23.3%  \n6.2 Yrs  \n125.6%  \n14.1%  \n5.0 Yrs  \n228.8%  \n26.7%  \n12.3 Yrs  \n582.1% 16.9%  \n3.4 Mos  \n21.4%  \n5.0 Yrs  \n101.5%  \n15.0%  \n11.0 Yrs  \n400.5% 15.8%  \n1.5 Mos  \n24.2%  \n1.8 Yrs  \n114.4%  \n53.5%  \n4.0 Yrs  \n113.9%  \n21.1%  \n11.9 Mos 11.6 Mos -20.6%  \n-28.5%  \n1.2 Yrs  \n-21.6%  \n-18.1%  \n6.4 Mos  \n-28.0%  \n7.9 Mos  \n-22.2% 1.5 Yrs  \n-36.1%  \n-26.1%  \n1.7 Yrs  \n-27.1%  \n1.7 Yrs -16.9%  \n-48.2%  \n-31.7%  \n3.3 Mos  \n-33.5%  \n1.5 Yrs  \n-36.8%  \n-26.5%  \n9.0 Mos  \n-33.8%  \n2.0 Mos  \n-27.6%  \n9.2 Mos 1.1 Mos -25.4%  \n-33.9%  \nRecession  Bull Market  Bear Market  \n1.1 Yrs  \n-51.9%  \n-48.2%  \nDuration  \n% Total Return % Annualized*  \n'42 '44 '46 '48 '50 '52 '54 '56 '58 '60 '62 '64 '66 '68 '70 '72 '74 '76 '78 '80 '82 '84 '86 '88 '90 '92 '94 '96 '98 '00 '02 '04 '06 '08 '10 '12 '14 '16 '18 '20 '22 '24 '26  \nSource: First Trust, Bloomberg. Daily returns from 4/29/1942-9/30/2026. *No annualized return shown if duration is less than one year. Past performance is no guarantee of future results. These results are based on daily returns–returns using different periods would produce different results. The S&P 500 Index is an unmanaged index of 500 companies used to measure large-cap U.S. stock market performance. Investors cannot invest directly in an index. Index returns do not reflect any fees, expenses, or sales charges. This chart is for illustrative purposes only and not indicative of any actual investment. These returns were the result of certain market factors and events which may not be repeated in the future.  \nThe information presented isnot intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust isnot undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or anyother regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.  \nNot FDIC Insured | Not Bank Guaranteed | May Lose Value ~~ ~~ First Trust Portfolios L.P. | Member SIPC | Member [FINRA | 1-800-621-1675 | www.ftportfolios.com](FINRA | 1-800-621-1675 | www.ftportfolios.com)","cbCaidEGso39d8DR","https://ap.wps.com/l/cbCaidEGso39d8DR","pdf",166846,"English","# Bull and Bear Definitions\n## Bull market rule\n## Bear market rule\n# Market Performance Since 1942\n## Average bull-market duration and return\n## Average bear-market duration and loss\n# Data Source and Disclosures","[{\"question\":\"How does the chart define a bull market?\",\"answer\":\"A bull market runs from the lowest close after the market has fallen 20% or more, to the next market high.\"},{\"question\":\"How does the chart define a bear market?\",\"answer\":\"A bear market occurs when the index closes at least 20% down from its previous high close, through the lowest close after it has fallen 20% or more.\"},{\"question\":\"What major disclaimers are included about the returns?\",\"answer\":\"The document states the chart is for illustrative purposes only, past performance is no guarantee of future results, index returns do not reflect fees or charges, and the information is not investment advice.\"}]","History of U.S. Bull and Bear Markets - Daily Returns Since 1942 - Chart Overview | PDF",1791846254]