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A market trend is a tendency of financial markets to move in a particular direction over time.〔(Market Course, George Fontanills, Tommy Gentile, John Wiley and Sons Inc. 2001, p91http://books.google.com/books?id=gtrLvlojNzIC&pg=PA91&dq=stock+market+trends#v=onepage&q=stock%20market%20trends&f=false ) 〕 These trends are classified as ''secular'' for long time frames, ''primary'' for medium time frames, and ''secondary'' for short time frames. Traders identify market trends using technical analysis, a framework which characterizes market trends as predictable price tendencies within the market when price reaches support and resistance levels, varying over time. Strictly, a trend can only be determined in hindsight, since at any time prices in the future are not known. The terms bull market and bear market describe upward and downward market trends, respectively, and can be used to describe either the market as a whole or specific sectors and securities.〔 The names perhaps correspond to the fact that a bull rampages forward, while a bear protects itself and (often) retreats. ==Etymology== The fighting styles of both animals may have a major impact on the names.〔(Bull Market )〕 One hypothetical etymology points to London bearskin "jobbers" (market makers),〔(Bulls and bears )〕 who would sell bearskins before the bears had actually been caught in contradiction of the proverb ''ne vendez pas la peau de l'ours avant de l’avoir tué'' ("don't sell the bearskin before you've killed the bear")—an admonition against over-optimism.〔 By the time of the South Sea Bubble of 1721, the bear was also associated with short selling; jobbers would sell bearskins they did not own in anticipation of falling prices, which would enable them to buy them later for an additional profit. Some analogies that have been used as mnemonic devices: * Bull is short for "bully", in its now somewhat dated meaning of "excellent". * It relates to the speed of the animals: Bulls usually charge at very high speed, whereas bears normally are thought of as lazy and cautious movers—a misconception, because a bear, under the right conditions, can outrun a horse.〔"(The Speed Of Grizzly Bears" ) William E. Kearns, Assistant Park Naturalist〕 * They were originally used in reference to two old merchant banking families, the Barings and the Bulstrodes. * The word "bull" plays off the market's returns being "full", whereas "bear" alludes to the market's returns being "bare". * "Bull" symbolizes charging ahead with excessive confidence, whereas "bear" symbolizes preparing for winter and hibernation in doubt. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Market trend」の詳細全文を読む スポンサード リンク
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