Yesterday, there were a large number of tweets in the English section stating that "A-shares have officially entered a bear market". It's quite strange. I'm curious about how they define it? I checked and found that it tracks the CSI 300 index, which is the top 300 A-shares with the highest market value and liquidity on the Shanghai and Shenzhen stock exchanges. Yesterday, after a sharp decline, the market closed down about 20% from its peak a few months ago, resulting in the so-called standard technical bear market. In history, the probability of a rebound in the following month after a single month of sharp decline is relatively high, and there is an emotional repair for a sudden drop. This period has been a gradual decline. What is more likely to occur within 1-2 months is a volatile bottoming out and accompanying small-scale rebound (narrow range oscillatory rebound, without unilateral). The resilience depends on the strength of the national team's rescue efforts and market confidence, as well as new revisions to profit expectations, liquidity or risk appetite suppression after a decline. Overall, whether present or absent, it is important to be prepared that there will be no upward trend in the market during this period. Of course, this is not limited to A-shares, and the US stock market also holds the same view. If there is a major bearish trend during this period that leads to further decline, especially a large volume decline, it will create a better opportunity to buy at the bottom repeatedly in the future.