One of its members was Thomas Jefferson, a lawyer from Virginia. He had been a leader in Virginia, and Virginia had elected him to the Continental Congress. The others on the committee were too busy with the revolution to work on the declaration, so Jefferson wrote it alone. He finished the document in a week.
The time frame is in weeks, so it shows the average bull market cycle is 155 weeks or about 39 months. The average bear market is about 17 months, which actually matches the most recent bear market from October 2007 to March 2009 (17 months). A full market cycle is 56 months.
They include the 1987 decline, which bottomed 55 days from the peak in the market, and the 45-day correction in 1998. The 1976 stand-alone bear market was the outlier here, lasting more than 500 days. Recession-induced bear markets tend to be longer, more drawn-out affairs.he next set of graphs shows the Price-to-Peak-Earnings Ratio at the start of each bear market. Stand-alone bear markets have begun at higher valuations, on average. Except for the 1976 and 1983 declines that started at less than 12 times earnings, most began at or above current valuations.