The South Korean stock market has officially entered a technical bear market. Live by the sword, die by the sword! The South Korean stock market previously rode an epic bull run thanks to two super heavyweights, Samsung and SK Hynix. But now, as the market starts worrying about the memory cycle peaking, even Samsung's 18x earnings aren't convincing anyone, leading to a brutal correction. Wave A down, Wave B rebound, and Wave C will continue to drop, officially confirming entry into a technical bear market. Memory, as the purest cyclical product in semiconductors, has insane price elasticity, and its turning points come especially fast. There's a harsh reality in strong cyclical industries: When demand exceeds supply, prices skyrocket, and both earnings and stock prices soar. But once the supply-demand balance flips, the sell-off can be more brutal than you'd imagine. To make money in cyclical industries, you really have to keep a close eye on those supply-demand turning points.