The fourth phase of the Wyckoff market cycle, in which the stock distributed to weak holders during the prior range is now marked down as professional support is withdrawn. Bear markets fall faster than bull markets because there is no professional buying to cushion declines. Characteristic signals include wide-spread down-bars on expanding volume, low-volume rallies (no demand), tests that fail to produce up-moves, up-thrusts on rallies, and consecutively lower highs. Weak holders refuse to sell during early declines, hoping for recovery — this delays capitulation but makes the eventual selling climax more explosive.