Typically, at the beginning of the second half of a bear market, many people truly begin to realize that a bear market has arrived, and it's also the stage where some funds, especially large funds, begin to capitulate, believing that "this time is different." During this phase, the lowest point of the decline will usually be followed by a rebound buffer period. The duration of this rebound is uncertain, given that the speed of the decline this time exceeded expectations… This buffer period is also an area of significant share exchange.