Recent data indicates a notable trend in the stock market, with a significant percentage of stocks trading below their 200-day moving averages. Specifically, 59% of S&P 500 stocks, 65% of S&P 400 stocks, and 70% of S&P 600 stocks are currently below this benchmark. This situation has led to discussions about the presence of a bull market, despite the majority of stocks not performing well. Analysts have expressed mixed sentiments, with some highlighting bullish signals, while others caution that the real bull market has yet to commence. Additionally, only 34% of S&P 500 stocks are trading above their 50-day moving averages, and 40% are above their 200-day moving averages, suggesting that market recovery indicators need to improve to confirm a short-term bottom.