The overall direction of trading in the broader market on either a short- mid- or long-term basis. A trend that moves generally higher is called an Uptrend, and one that moves generally lower is called a downtrend. Trends can be short- or long-term. short term trends cycle within the broader trend, sometimes moving with it and sometimes against it. For example, a long-term bull market is typically comprised of a Series of shorter-term uptrends and downtrends. See Cyclical Market; Primary Market Trend; Secondary Market Trend; secular market.