In short
- A bull market rises for a long time, a bear market falls for a long time.
- The −10% and −20% markers are conventions used by the financial press, not official rules.
- The MASI stood at −12.36% since the start of the year on November 2, 2026.
The words and their markers
| Term | Common meaning |
|---|---|
| Bull market | A lasting rise in prices, often driven by confidence. |
| Correction | A fall often around 10% from a recent peak. |
| Bear market | A lasting fall, often at least 20% from a peak. |
| Crash | A very sharp and very fast fall, with no single threshold. |
| Rebound | A rise after a fall, which says nothing about how long it lasts. |
Calculating a fall from a peak
A made-up example: an index goes from 20,000 to 16,000 points. The fall is 4,000 points, or 20%. To get back to 20,000 points, it must then rise by 25%.
The example of the MASI in 2026
According to Financial Afrik, the MASI fell by about 12% between February 20 and March 3, 2026. On November 2, 2026, it stood at 16,517.12 points, or −12.36% since the start of the year according to Boursenews. This figure is calculated from the start of the year, not from a peak, so it is not enough to put the market in a category.
Why cycles are hard to predict
- Several causes add up: results, rates, international news, confidence.
- The name comes afterwards: people often know a peak has passed only once the fall is under way.
- A rebound can stop, and a fall can continue.
- The index hides gaps: some stocks can rise while the index falls.
These words describe the past. They do not say what the market will do next, and this guide makes no prediction.
Frequently asked questions
Why “bull” and “bear”?
These two animals are the traditional symbols of rising and falling markets.
Does a fall in the index affect all shares?
No. The index is a weighted average: some stocks can rise while it falls.
This article is for information and educational purposes only. It is not investment advice or a recommendation to buy or sell any security. Investing in shares involves a risk of capital loss. Check figures against official sources (Casablanca Stock Exchange, AMMC) and consult a licensed professional. Read the full disclaimer.
