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Stocks have rallied, but the nine painful stages of this bear market are not even halfway done

Such markets typically end with a massive sell-off. Here’s what to do before then

Expect more pain to come as the bears sink their claws in
Expect more pain to come as the bears sink their claws in Photo: Getty Images

Michael Sincere is the author of Understanding Stocks. His latest book, How to Profit in the Stock Market, explores bull and bear market investing strategies

The official definition of a bear market is a 20% or greater decline from an index’s previous high. Accordingly, the three major US stock-market benchmarks — the Nasdaq, the S&P 500 and the Dow Jones Industrial Average — are currently all in a bear market.

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