In investing, financial markets are commonly believed to have market trends that can be classified as primary trends, secondary trends (short-term), and secular trends (long-term). This belief is generally consistent with the non-scientific practice of technical analysis and broadly inconsistent with the standard academic view of financial markets, the efficient market hypothesis. The belief in trends incorporates the idea that market cycles occur with regularity and persistence.

The assumption that market prices move in trends is one of the major components of technical analysis, and consideration of market trends is common to many Wall Street investors. Market trends are described as sustained movements in market prices over a period of time. The terms bull market and bear market describe upward and downward movements respectively and can be used to describe either the market as a whole or specific sectors and securities (stocks). The expressions "bullish" and "bearish" can also mean optimistic and pessimistic respectively ("bullish on gold," or "bearish on technology stocks", etc).

Primary market trends

A primary trend has broad support throughout the entire market or market sector and lasts for a year or more.