The lowest point of this bear market so far is less than 55% away from the highest point, but the end of the cycle is approaching again. There is still a possibility of the first round of cyclical convergence at the end of the cycle. Is the cycle still going on? The market is worried because the previous rebound exceeded the high of the last rebound. Too many people thought it was a reversal and that the bull market had started ahead of schedule. Emotions were ignited. Now it has fallen back, and while the emotions have been extinguished, people are "wetter."