Downtrend
A market structure defined by lower highs and lower lows, reflecting sustained selling pressure.
In a downtrend, each rally peak is capped below the previous one (lower high) and each bounce low undercuts the prior low (lower low). Bears are in control — rallies are selling opportunities, not buy signals.
A downtrend breaks when price posts the first significant higher low and then takes out a prior lower high. That sequence — not just a single green day — is the evidence needed to shift bias.