What it is
The strict (and commonly accepted) definition of the term “bull market” is a period in which stock prices rise 20% after two declines of 20% each.
Informally, it is also used to describe a financial market where general prices are rising or are expected to climb soon. It is usually used in reference to stocks, but can also be seen in real estate, bonds, and other tradeable assets.
What makes a bull market different from the typical increase seen as a market operates is its duration. It is likely to last for months or even years.
The name is supposedly taken from the way bulls attack, which is by tossing things upward with their horns.
What it means for you
When news reports talk of an ongoing bull market, you can expect prices to be on their way up. The value of your related assets is likely to increase at this time, and you may also find good opportunities for new investments.
The opposite of a bull market is a bear market. In this, prices fall and will do so for some time. It will also probably pull the value of your assets down.
