1, There is a long period of decline, over three months.
2, The index has a large decline.
3, The market, whether institutional investors or retail investors, are in a high state of loss, the market loss of more than 70%, and a large loss, retail investors in more than 50%, institutions in more than 20%.

4, The p/e ratio and average share price of the stock market are both close to or below historical levels. For example: An average share price of around $6 per share and an average p/e ratio of around 25 times.
5, There are no more than 100 high priced stocks above $30 in both markets, while stocks below $5 abound and there are stocks that have fallen below $2 and are below $2.
6, All people in the market have lost confidence in the market and are extremely unpromising about the future. The comments of stock commentary analysts tend to be unanimously bearish on the future market, and those who are long are severely beaten and criticized by the market trend and retail investors.
7, The active speculative forces in the market have been severely hit and no longer have the ability or energy to speculate.
8, Every day the market rose by more than 5% of the stock is very little, and a lot of stocks down, the top stock prices are low, between 38 yuan, and the volume of effective cooperation, for the technical nature of the oversold rebound, the stock rose very low sustainability, investors on the stock rise grasp ability low.
9, The new shares listed that fell below or close to the issue price, regardless of the quality of good or bad, the new shares are not recognized by the market, the price positioning is lower than usual.
10, Management made clarifications and reflections on the earlier statements and practices, temporarily abandoning the original practices and statements and switching to statements and practices that are supportive and beneficial to the stock market.
11, Scholars, experts and others dissected, criticized and discussed the substantive problems and defects of the stock market on multiple levels and aspects, and the deep-rooted problems of the stock market were continuously exposed and exposed.
12, The really good and valuable stocks have stopped falling and turned to sideways and shrinkage or quietly come out of the upward channel.
13, The market has a great investment value and upside stocks and opportunities, so that the market has the prerequisites for re-activation, in addition to people's least optimistic and ignore the problems or poor performance stocks, often at this time to start, volume began to be active and get sustained, the first rise is often a stop board to become a trigger for the market fuse.

14, The daily volume of the two markets is below 100 billion, Shanghai’s daily volume is around 60 billion, the technical trend of the index is extremely poor, breaking new lows, but the long-term uptrend on the monthly line is still maintained or not completely destroyed, the stock index is supported at the monthly historical low.
15, The stock market and the macroeconomic environment deviation degree is large, the market over reflect the macro side, micro side, listed companies and management of the insider constantly exposed, intermediaries collusion shady also big white world, the market integrity crisis is very serious, retail investors in helpless and very angry, retail investors attitude is extremely bad, behavior impulsive, radical, the market appeared unstable crisis.