Are We in a Bear Market or Bull Market in 2011?

Are we in the middle of a bear market or a bull market in 2011?
A market is considered 'bear' when stock prices fall, and the trend continues for many months. A bull market is the opposite. After the bad economic new about our government, stock have lost most of its past gains. Do you think this is the start of a big bear market or is it just a much needed market correction?

Last week, the Dow Jones industrial average fell almost 700 points.
And after the S&P downgraded the US rating, the stock market is facing more losses.
Mounting fears of a debt default already had put the brakes on the U.S. stock market's 2011 climb.
We're definitely in a bear market but I'm not sure how long it's going to last. Falling stock prices adversely impact business and consumer sentiment.

Maybe we should be prepare for a deep bear market, since investors are feeling nervous about the U.S. economy and the European debt among other issues.
Bull market? That's definitely far away.