The most common definition of a bear market is a decline of 20% or more below a recent high. Earlier this year, the IBB (Biotech ETF) fell 24% which dragged down a slew of momentum and growth stocks. At the time, I wrote about (here) how steep corrections were normal and actually healthy for these high octane areas of the market. That pause is over and, barring some unforeseen selloff, the longstanding uptrend has resumed.
Biotech ETF (IBB):