The terms bullish and bearish are used to describe an outlook for financial markets. A bull thrusts his horns up when he does battle. A bear swings his or her arms down when he or she fights. If you are bullish, you think that the market will rise. The term bull market is often used to describe a continuous period of rising values. If you are bearish, you think that the market will decline. A correction is often used to describe a decline of 10 percent or more in the market. Some investors refer to a decline of more than 20 percent as a bear market.