{"id":300448,"date":"2021-11-28T18:12:23","date_gmt":"2021-11-28T16:12:23","guid":{"rendered":"https:\/\/www.etoro.com\/investing\/bull-vs-bear-markets\/"},"modified":"2024-08-02T10:55:47","modified_gmt":"2024-08-02T07:55:47","slug":"bull-vs-bear-markets","status":"publish","type":"page","link":"https:\/\/www.etoro.com\/cs-cz\/investing\/bull-vs-bear-markets\/","title":{"rendered":"Medv\u011bd\u00ed trhy vs. b\u00fd\u010d\u00ed trhy"},"content":{"rendered":"\n<p class=\"is-style-summary\">Medv\u011bd\u00ed trh a b\u00fd\u010d\u00ed trh jsou dva pojmy, kter\u00e9 se v investi\u010dn\u00edm sv\u011bt\u011b \u010dasto zam\u011b\u0148uj\u00ed. Spole\u010dn\u00e9 maj\u00ed to, \u017ee se poj\u00ed k v\u00fdrazn\u00fdm cenov\u00fdm pohyb\u016fm a usnad\u0148uj\u00ed investor\u016fm orientaci na finan\u010dn\u00edch trz\u00edch. Poj\u010fte se s n\u00e1mi pod\u00edvat, co medv\u011bd\u00ed a b\u00fd\u010d\u00ed trh p\u0159esn\u011b znamen\u00e1 a jak je m\u016f\u017eete rozeznat.<\/p>\n\n\n\n<hr class=\"wp-block-separator wp-block-separator-color-dark-grey wp-block-separator-spaces-medium wp-block-separator-weight-1\"\/>\n\n\n\n<p><strong>Pojmy medv\u011bd\u00ed a b\u00fd\u010d\u00ed trh pou\u017e\u00edv\u00e1me k rychl\u00e9mu ozna\u010den\u00ed cenov\u00e9ho trendu<\/strong> na dan\u00e9m trhu, sektoru, resp. aktivu. Pokud cena roste, \u0159\u00edk\u00e1me, \u017ee je trend b\u00fd\u010d\u00ed. Pokud naopak vytrvale kles\u00e1, jde o trend medv\u011bd\u00ed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Co je medv\u011bd\u00ed trh?<\/h2>\n\n\n\n<p><mark>Medv\u011bd\u00ed trh (bear market) ozna\u010duje <strong>obdob\u00ed, b\u011bhem kter\u00e9ho hodnota aktiv vytrvale kles\u00e1.<\/strong> Spr\u00e1vn\u011b bychom m\u011bli trh ozna\u010dit jako medv\u011bd\u00ed, a\u017e kdy\u017e dojde k poklesu cen o v\u00edce ne\u017e 20 % oproti p\u0159edchoz\u00edmu maximu.<\/mark><\/p>\n\n\n\n<p><strong>Re\u00e1ln\u011b se tento pojem ov\u0161em nadu\u017e\u00edv\u00e1<\/strong>, tak\u017ee se b\u011b\u017en\u011b setk\u00e1te s ozna\u010den\u00edm medv\u011bd\u00ed i v situac\u00edch, kdy je pokles stabiln\u00ed, i kdy\u017e ne tak markantn\u00ed. V angli\u010dtin\u011b si dopom\u00e1haj\u00ed pojmem \u201ebearish\u201c, kter\u00fd ozna\u010duje pokles mezi 5 a 20 %.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"769\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image1-1-2.png\" alt=\"\" class=\"wp-image-658310 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image1-1-2.png 769w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image1-1-2-300x156.png 300w\" sizes=\"(max-width: 769px) 100vw, 769px\" \/><\/figure>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip: <\/strong>P\u0159i implementaci dobr\u00fdch strategi\u00ed a z\u00e1sad si m\u016f\u017eete p\u0159ipravit portfolio, kter\u00e9 obstoj\u00ed i v <a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/copytrader\/how-to-build-a-portfolio-for-uncertain-times\/\">nejist\u00fdch \u010dasech<\/a>.&nbsp;<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Co je b\u00fd\u010d\u00ed trh?<\/h2>\n\n\n\n<p><mark>B\u00fd\u010d\u00ed trh (bull market) je protikladem medv\u011bd\u00edho trhu.<strong> Ozna\u010duje situaci, kdy hodnota aktiv na finan\u010dn\u00edch trz\u00edch dlouhodob\u011b roste<\/strong>.<\/mark><\/p>\n\n\n\n<p>Mezi dva dobr\u00e9 indik\u00e1tory b\u00fd\u010d\u00edho trhu pat\u0159\u00ed:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list-circle\">\n<li><strong>R\u016fst cen p\u0159es 20 %<\/strong> nad p\u0159edchoz\u00ed minimum<\/li>\n\n\n\n<li>Dosa\u017een\u00ed nov\u00e9ho <a href=\"https:\/\/www.investicniweb.cz\/investice\/akcie\/historicka-maxima-rizika-dusledky\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>historick\u00e9ho maxima<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>A podobn\u011b jako u medv\u011bd\u00edch trh\u016f, i zde se v angli\u010dtin\u011b setk\u00e1te s v\u00fdrazem <strong>\u201ebullish\u201c, kter\u00fd ozna\u010duje rostouc\u00ed trhy, kter\u00e9 je\u0161t\u011b ale nejsou zcela jist\u011b b\u00fd\u010d\u00ed.&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"769\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image2-1-2.png\" alt=\"\" class=\"wp-image-658331 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image2-1-2.png 769w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image2-1-2-300x156.png 300w\" sizes=\"(max-width: 769px) 100vw, 769px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Medv\u011bd\u00ed vs. b\u00fd\u010d\u00ed trh<\/h2>\n\n\n\n<p>Pokud se bav\u00edme o akciov\u00fdch trz\u00edch, v\u011bt\u0161inou je v\u00fdchoz\u00ed situac\u00ed b\u00fd\u010d\u00ed trh. Historick\u00e1 data n\u00e1m ukazuj\u00ed, \u017ee <strong>akciov\u00e9 trhy v dlouhodob\u00e9m horizontu<\/strong> <strong>postupn\u011b rostou <\/strong>a tento r\u016fst je ob\u010das p\u0159eru\u0161en n\u00e1hl\u00fdm, kr\u00e1tkodob\u00fdm propadem.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip:<\/strong> I kdy\u017e se tyto pojmy obvykle poj\u00ed k akciov\u00fdm trh\u016fm, b\u00fd\u010d\u00ed a medv\u011bd\u00ed trhy m\u016f\u017eete naj\u00edt na v\u0161ech finan\u010dn\u00edch trz\u00edch. A\u0165 u\u017e obchodujete s <a href=\"https:\/\/www.etoro.com\/cs-cz\/discover\/markets\/commodities\">komoditami<\/a> nebo <a href=\"https:\/\/www.etoro.com\/cs-cz\/discover\/markets\/cryptocurrencies\">kryptoaktivy<\/a>, m\u016f\u017eete tyto znalosti vyu\u017e\u00edt.&nbsp;<\/p>\n<\/div><\/div>\n\n\n\n<p><strong>Podobn\u00fd v\u00fdvoj v <\/strong><a href=\"https:\/\/finex.cz\/ekonomicke-cykly-pouze-zajimavost-nebo-dulezity-nastroj-pro-investory\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>cyklech<\/strong><\/a><strong> je na finan\u010dn\u00edch trz\u00edch p\u0159irozen\u00fd. <\/strong>I tak ale medv\u011bd\u00ed trhy v\u011bt\u0161inou zp\u016fsob\u00ed paniku mezi investory, kte\u0159\u00ed se pak impulzivn\u011b zbavuj\u00ed sv\u00fdch pozic, \u010d\u00edm\u017e uzav\u00edraj\u00ed sv\u00e9 ztr\u00e1ty. A pr\u00e1v\u011b tyto n\u00e1hl\u00e9 propady jsou jedn\u00edm z hlavn\u00edch d\u016fvod\u016f, pro\u010d byste nikdy nem\u011bli investovat v\u00edce, ne\u017e si m\u016f\u017eete dovolit ztratit.<\/p>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">SPDR S&amp;P 500 ETF (SPY) \u2013 2014\u20132023<\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/spy\/chart\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"479\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Ofh32QwYDs-1024x479.png\" alt=\"\" class=\"wp-image-658648 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Ofh32QwYDs-1024x479.png 1024w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Ofh32QwYDs-300x140.png 300w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Ofh32QwYDs-768x359.png 768w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Ofh32QwYDs-1536x718.png 1536w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Ofh32QwYDs.png 1819w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"is-style-disclaimer\"><em>Pouze pro ilustra\u010dn\u00ed \u00fa\u010dely. Minul\u00e1 v\u00fdkonnost nen\u00ed ukazatelem budouc\u00edch v\u00fdsledk\u016f<\/em><\/p>\n\n\n\n<p>Zdroj: <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/spy\/chart\">eToro<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Obchodov\u00e1n\u00ed na medv\u011bd\u00edm trhu vs. obchodov\u00e1n\u00ed na b\u00fd\u010d\u00edm trhu<\/h2>\n\n\n\n<p>A\u0165 u\u017e se chyst\u00e1te obchodovat na medv\u011bd\u00edm nebo b\u00fd\u010d\u00edm trhu, <strong>v\u017edy mus\u00edte nejd\u0159\u00edve vz\u00edt v \u00favahu va\u0161i aktu\u00e1ln\u00ed situaci<\/strong>, <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/why-should-i-start-investing\/\">investi\u010dn\u00ed c\u00edle<\/a> a \u010dasov\u00fd horizont investice. To v\u0161e bude ovliv\u0148ovat va\u0161e obchodn\u00ed a investi\u010dn\u00ed strategie.&nbsp;<\/p>\n\n\n\n<p>Pokud pat\u0159\u00edte mezi investory, kte\u0159\u00ed vyzn\u00e1vaj\u00ed p\u0159\u00edstup \u201eKup a dr\u017e\u201c, co\u017e je dlouhodob\u00e1 investi\u010dn\u00ed strategie, pravd\u011bpodobn\u011b v\u00e1s medv\u011bd\u00ed trh moc znepokojovat nebude. Naopak v n\u011bm uvid\u00edte<strong> p\u0159\u00edle\u017eitost k n\u00e1kupu zaj\u00edmav\u00fdch aktiv, kter\u00e1 jsou moment\u00e1ln\u011b <\/strong><strong>podhodnocen\u00e1<\/strong>. To v\u00e1m p\u0159i n\u00e1sledn\u00e9m r\u016fstu m\u016f\u017ee pomoci k rychlej\u0161\u00ed cest\u011b k <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/financial-independence\/\">finan\u010dn\u00ed nez\u00e1vislosti<\/a>.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Ov\u0161em pozor na to, \u017ee ceny klesaj\u00edc\u00ed v r\u00e1mci medv\u011bd\u00edho trhu nezaru\u010duj\u00ed, \u017ee do budoucna porostou. <strong>Ne v\u0161echny spole\u010dnosti se z medv\u011bd\u00edho trhu vzpamatuj\u00ed.<\/strong> Proto v\u017edy p\u0159ed investic\u00ed prove\u010fte d\u016fkladnou <a href=\"https:\/\/finex.cz\/rubrika\/serial-fundamentalni-analyzy\/\" target=\"_blank\" rel=\"noreferrer noopener\">anal\u00fdzu<\/a>.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-etoro-emphasis wp-block-etoro-emphasis-border-green\">\n<p>Medv\u011bd\u00ed trhy v\u011bt\u0161inou souvis\u00ed se ztr\u00e1tou d\u016fv\u011bry investor\u016f.<\/p>\n<\/div>\n\n\n\n<p><strong>B\u011bhem b\u00fd\u010d\u00edch trh\u016f v\u011bt\u0161inou k investi\u010dn\u00edmu rozhodov\u00e1n\u00ed vyu\u017e\u00edv\u00e1te <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/trading\/advanced-analysis-tools-available-on-platform\/\"><strong>historickou v\u00fdkonnost<\/strong><\/a><strong> aktiva a <\/strong><strong>fundament\u00e1ln\u00ed ekonomick\u00e1 data<\/strong><strong>.<\/strong> Podobn\u011b m\u016f\u017eete fungovat i b\u011bhem medv\u011bd\u00edch trh\u016f, ale pozor na to, \u017ee v\u011bt\u0161inou je s nimi spojen\u00e1 panika a s tou se poj\u00ed rychl\u00fd v\u00fdprodej.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Obchodn\u00ed strategie na b\u00fd\u010d\u00edm vs. medv\u011bd\u00edm trhu<\/h2>\n\n\n\n<p>Dop\u0159edu si \u0159ekn\u011bme, \u017ee<strong> neexistuje \u017e\u00e1dn\u00e1 ultim\u00e1tn\u00ed strategie, kter\u00e1 by v\u00e1m mohla zaru\u010dit zisky.<\/strong> Ka\u017ed\u00e9mu bude vyhovovat trochu jin\u00fd p\u0159\u00edstup, resp. mix p\u0159\u00edstup\u016f. N\u00ed\u017ee uv\u00e1d\u00edme n\u011bkter\u00e9 z \u0161iroce vyu\u017e\u00edvan\u00fdch strategi\u00ed, kter\u00e9 m\u016f\u017eete zv\u00e1\u017eit i pro sv\u00e9 portfolio.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Momentum strategie<\/h3>\n\n\n\n<p><a href=\"https:\/\/finex.cz\/47-dil-serialu-technicke-analyzy-momentum-trading-jak-funguje-momentum-trading\/\" target=\"_blank\" rel=\"noreferrer noopener\">Momentum strategii<\/a>, resp. strategii hybnosti, asi nejl\u00e9pe vystihuje \u201ep\u0159ipojte se k davu pozd\u011b a opus\u0165te ho brzy.\u201c. Investo\u0159i se s pomoc\u00ed t\u00e9to strategie <strong>sna\u017e\u00ed vyu\u017e\u00edt ji\u017e nastoupen\u00fdch trend\u016f, b\u00fd\u010d\u00edch i medv\u011bd\u00edch.<\/strong> Na ty pak aplikuj\u00ed <strong>momentum indik\u00e1tory<\/strong>, pomoc\u00ed kter\u00fdch se sna\u017e\u00ed odhalit zpomalov\u00e1n\u00ed a potenci\u00e1ln\u00ed obrat trendu.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Trendov\u00e9 strategie<\/h3>\n\n\n\n<p>Trendov\u00e9 strategie mnohdy vyu\u017e\u00edvaj\u00ed zast\u00e1nci <strong>technick\u00e9 anal\u00fdzy<\/strong>. Ti <strong>vyu\u017e\u00edvaj\u00ed cenov\u00e9 grafy, na kter\u00fdch se sna\u017e\u00ed naj\u00edt <\/strong><a href=\"https:\/\/investice.finance.cz\/zpravy\/finance\/234913-technicka-analyza-na-forexu-ii\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>obrazce a vzorce<\/strong><\/a>, kter\u00e9 napov\u00eddaj\u00ed, kam bude trend sm\u011b\u0159ovat d\u00e1le. Jakmile najdou dostatek zn\u00e1mek o tom, kam trh bude sm\u011b\u0159ovat, zaujmou odpov\u00eddaj\u00edc\u00ed pozici.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Pr\u016flom<\/h3>\n\n\n\n<p>Jin\u00e9 strategie se sna\u017e\u00ed odhalit, kdy trh prolom\u00ed st\u00e1vaj\u00edc\u00ed trend. Sna\u017e\u00ed se <strong>analyzovat tr\u017en\u00ed sentiment, hranice podpory a odporu, ale tak\u00e9 sleduj\u00ed, kdy cena \u201eproraz\u00ed\u201c <\/strong><a href=\"https:\/\/help.etoro.com\/s\/article\/how-to-use-charts-and-procharts?language=cs\"><strong>linii trendu<\/strong><\/a>, co\u017e \u010dasto nazna\u010duje, \u017ee se trend ot\u00e1\u010d\u00ed.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Germany 40 Index (GER40) \u2013 2021\u20132023<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/ger40\/chart\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"479\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/b8gE4zHNUP-1024x479.png\" alt=\"\" class=\"wp-image-658627 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/b8gE4zHNUP-1024x479.png 1024w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/b8gE4zHNUP-300x140.png 300w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/b8gE4zHNUP-768x359.png 768w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/b8gE4zHNUP-1536x718.png 1536w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/b8gE4zHNUP.png 1819w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"is-style-disclaimer\"><em>Pouze pro ilustra\u010dn\u00ed \u00fa\u010dely. Minul\u00e1 v\u00fdkonnost nen\u00ed ukazatelem budouc\u00edch v\u00fdsledk\u016f<\/em><\/p>\n\n\n\n<p>Zdroj: <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/ger40\/chart\">eToro<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Redukce pozic za \u00fa\u010delem pozd\u011bj\u0161\u00edho n\u00e1kupu<\/h3>\n\n\n\n<p>Pokud ji\u017e na dan\u00e9m trhu m\u00e1te n\u011bkter\u00e1 aktiva, t\u0159eba akcie, m\u016f\u017eete se p\u0159i nastupuj\u00edc\u00edm medv\u011bd\u00edm trhu<strong> rozhodnout n\u011bkter\u00e9 sv\u00e9 dlouh\u00e9 pozice prodat<\/strong>. Pokud to ud\u011bl\u00e1te v\u010das, m\u016f\u017eete pozd\u011bji za utr\u017een\u00e9 pen\u00edze nakoupit v\u011bt\u0161\u00ed pozici na dan\u00e9m aktivu.<\/p>\n\n\n\n<p>T\u00edmto zp\u016fsobem m\u016f\u017eete v dlouhodob\u00e9m horizontu vyd\u011blat na medv\u011bd\u00edm trhu i<strong> bez vyu\u017eit\u00ed CFD a <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/short-selling\/\"><strong>kr\u00e1tk\u00fdch pozic<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip: <\/strong>P\u0159ed vysok\u00fdm rizikem poklesu va\u0161ich investic v\u00e1s m\u016f\u017ee ochr\u00e1nit dobr\u00e1 <a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/investing\/diversification-an-investors-best-bet-against-loss-aversion\/\">diverzifikace<\/a> va\u0161eho portfolia.&nbsp;<\/p>\n<\/div><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Jak rozpoznat medv\u011bd\u00ed trh<\/h2>\n\n\n\n<p><strong>Medv\u011bd\u00ed trhy v\u011bt\u0161inou souvis\u00ed se ztr\u00e1tou d\u016fv\u011bry investor\u016f.<\/strong> Tu mohou zp\u016fsobovat nap\u0159\u00edklad rostouc\u00ed \u00farokov\u00e9 sazby, geopolitick\u00e9 ud\u00e1losti a n\u011bkdy i jen to, \u017ee b\u00fd\u010d\u00ed trh u\u017e trv\u00e1 moc dlouho.&nbsp;<\/p>\n\n\n\n<p><strong>Pokud za\u010dne v\u00fdprodej na trhu, m\u016f\u017ee se je\u0161t\u011b zhor\u0161it, pokud je spojen s probl\u00e9my s likviditou, tzv. <\/strong><a href=\"https:\/\/jenakcie.cz\/co-je-to-short-squeeze-pochopeni-toho-proc-k-nim-dochazi-a-jak-funguji\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>short squeeze<\/strong><\/a><strong>. <\/strong>To je situace, kdy jsou obchodn\u00edci dr\u017e\u00edc\u00ed kr\u00e1tk\u00e9 pozice na aktivu nuceni je uzav\u00edrat, aby zastavili sv\u00e9 ztr\u00e1ty a p\u0159em\u011bnili je zp\u011bt na hotovost. Toto chov\u00e1n\u00ed m\u016f\u017ee vyvolat dal\u0161\u00ed p\u00e1d ceny.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Jak rozpoznat b\u00fd\u010d\u00ed trh<\/h2>\n\n\n\n<p><strong>Historick\u00e1 data na akciov\u00fdch trz\u00edch ukazuj\u00ed, \u017ee se tyto trhy v\u011bt\u0161inou nach\u00e1z\u00ed v b\u00fd\u010d\u00ed f\u00e1zi.<\/strong> T\u00edm, \u017ee je medv\u011bd\u00ed trh vz\u00e1cn\u011bj\u0161\u00ed, v\u011bt\u0161ina investor\u016f investuje v r\u00e1mci b\u00fd\u010d\u00edch trh\u016f a sna\u017e\u00ed se pro lep\u0161\u00ed vstupn\u00ed pozici zachytit kr\u00e1tkodob\u00e9 v\u00fdprodeje, <strong>cenov\u00e9 korekce<\/strong> a ide\u00e1ln\u011b i kr\u00e1tkodob\u00e9 medv\u011bd\u00ed trhy.&nbsp;<\/p>\n\n\n\n<p>Na grafu n\u00ed\u017ee m\u016f\u017eete vid\u011bt, \u017ee b\u011bhem b\u00fd\u010d\u00edho obdob\u00ed <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/nsdq100\">NASDAQ<\/a> v letech 2009 a\u017e 2020 <strong>doch\u00e1zelo k vrchol\u016fm a pokles\u016fm, kter\u00e9 v\u0161ak neznamenaly konec b\u00fd\u010d\u00edho trhu.<\/strong> B\u00fd\u010d\u00ed trh skon\u010dil a\u017e po propadu ceny o v\u00edce ne\u017e 20 % v b\u0159eznu 2020. Z\u00e1rove\u0148 zde m\u016f\u017eete vid\u011bt, \u017ee i p\u0159es medv\u011bd\u00ed trh index n\u00e1sledn\u011b za\u010dal znovu r\u016fst.<\/p>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Nasdaq 100 Index (NSDQ) \u2013 2010\u20132023<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/nsdq100\/chart\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"479\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/VvBgumkYRp-1024x479.png\" alt=\"\" class=\"wp-image-658669 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/VvBgumkYRp-1024x479.png 1024w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/VvBgumkYRp-300x140.png 300w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/VvBgumkYRp-768x359.png 768w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/VvBgumkYRp-1536x718.png 1536w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/VvBgumkYRp.png 1819w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"is-style-disclaimer\"><em>Pouze pro ilustra\u010dn\u00ed \u00fa\u010dely. Minul\u00e1 v\u00fdkonnost nen\u00ed ukazatelem budouc\u00edch v\u00fdsledk\u016f<\/em><\/p>\n\n\n\n<p>Zdroj: <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/nsdq100\/chart\">eToro<\/a><\/p>\n\n\n\n<div class=\"wp-block-etoro-emphasis wp-block-etoro-emphasis-border-green\">\n<p>Historick\u00e1 data n\u00e1m ukazuj\u00ed, \u017ee akciov\u00e9 trhy v dlouhodob\u00e9m horizontu postupn\u011b rostou, a tento r\u016fst je ob\u010das p\u0159eru\u0161en n\u00e1hl\u00fdm, kr\u00e1tkodob\u00fdm propadem.<\/p>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"769\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image3-1-2.png\" alt=\"\" class=\"wp-image-658374 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image3-1-2.png 769w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/Body-Image3-1-2-300x156.png 300w\" sizes=\"(max-width: 769px) 100vw, 769px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Shrnut\u00ed<\/h2>\n\n\n\n<p>Ceny aktiv se zpravidla nepohybuj\u00ed v p\u0159\u00edmk\u00e1ch. Proto lze i na b\u00fd\u010d\u00edm, resp. medv\u011bd\u00edm trhu <a href=\"https:\/\/www.etoro.com\/cs-cz\/investing\/investing-vs-trading\/%C2%A8%C2%A8\"><strong>obchodovat<\/strong><\/a><strong> s kr\u00e1tkodob\u00fdmi v\u00fdkyvy<\/strong>, kter\u00e9 p\u0159in\u00e1\u0161\u00ed p\u0159\u00edle\u017eitosti k v\u00fdd\u011blku, tzv. protitrendu.<\/p>\n\n\n\n<p>Ov\u0161em <strong>identifikace aktu\u00e1ln\u00ed situace na trhu je z\u00e1sadn\u00ed jak pro nov\u00e1\u010dky, tak pro zku\u0161en\u00e9 investory<\/strong>. V\u017edy je pot\u0159eba j\u00ed p\u0159izp\u016fsobit va\u0161e strategie a metody \u0159\u00edzen\u00ed rizik.<\/p>\n\n\n\n<p>Nav\u0161tivte <a href=\"https:\/\/www.etoro.com\/cs-cz\/academy\/\">Akademii eToro<\/a> a dozv\u00edte se v\u00edce o medv\u011bd\u00edch a b\u00fd\u010d\u00edch trz\u00edch i o tom, jak je obchodovat.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u010cast\u00e9 dotazy<\/h2>\n\n\n\n<dl class=\"wp-block-etoro-faq\">\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak dlouho obvykle trvaj\u00ed b\u00fd\u010d\u00ed a medv\u011bd\u00ed trhy?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Bohu\u017eel na toto neum\u00edme odpov\u011bd\u011bt. Medv\u011bd\u00ed a b\u00fd\u010d\u00ed trhy mohou trvat r\u016fzn\u011b dlouho. Nap\u0159\u00edklad krach na Wall Street v roce 1929 byl kl\u00ed\u010dovou ud\u00e1lost\u00ed vlekl\u00e9ho medv\u011bd\u00edho trhu, kter\u00fd trval t\u00e9m\u011b\u0159 t\u0159i roky. Na druhou stranu index <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/nsdq100\">Nasdaq 100<\/a> za\u017eil v letech 2009 a\u017e 2020 b\u00fd\u010d\u00ed trh, kdy jeho hodnota vzrostla o 747 %.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Jak\u00fd je nejkrat\u0161\u00ed medv\u011bd\u00ed trh v historii?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Pro nejkrat\u0161\u00ed medv\u011bd\u00ed trh nemus\u00edme j\u00edt do vzd\u00e1len\u00e9 historie. Pandemie Covidu a s n\u00ed spojen\u00fd krach akciov\u00fdch trh\u016f mezi 20. \u00fanorem a 24. b\u0159eznem 2020, p\u0159i kter\u00e9m index <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/spx500\">S&amp;P 500<\/a> ztratil v\u00edce ne\u017e 30 % hodnoty, je pova\u017eov\u00e1n za nejkrat\u0161\u00ed medv\u011bd\u00ed trh v historii. Do 6. dubna se mu poda\u0159ilo trend oto\u010dit a vzr\u016fst o 20 %.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Existuj\u00ed obdob\u00ed, kdy trh nen\u00ed ani b\u00fd\u010d\u00ed, ani medv\u011bd\u00ed?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Ano, ob\u010das jde trh tzv. bokem, do strany. T\u00e9to f\u00e1zi \u0159\u00edk\u00e1me konsolida\u010dn\u00ed, investo\u0159i i trhy vy\u010dk\u00e1vaj\u00ed a hodnot\u00ed dosavadn\u00ed situaci. Tento stav obvykle netrv\u00e1 moc dlouho. Je t\u011b\u017ek\u00e9 ur\u010dit, jestli bude aktivum pokra\u010dovat v nasazen\u00e9m trendu, nebo dojde k jeho obratu. K tomu je v\u017edy pot\u0159eba podrobn\u011bj\u0161\u00ed <a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/copytrader\/zaklady-technicke-analyzy\/\">anal\u00fdza<\/a> aktiva i n\u00e1lady na trhu, kter\u00e1 bude z\u00e1sadn\u00ed minim\u00e1ln\u011b v kr\u00e1tkodob\u00e9m horizontu.<\/p>\n<\/dd><\/div>\n<\/dl>\n\n\n\n\t\t<style>\n\t\t\t.rtl .etoro-block-shortcode-disclaimer {\n\t\t\t\ttext-align:right;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\tmargin-bottom:18px;\n\t\t\t\ttext-align:left;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer p{\n\t\t\t\tfont-size: 12px;\n\t\t\t\tline-height: 18px;\n\t\t\t}\n\t\t\t@media (min-width: 768px) {\n\t\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\t\tmax-width:1176px;\n\t\t\t\t\ttext-align:center;\n\t\t\t\t}\n\t\t\t\t.etoro-block-shortcode-disclaimer p {\n\t\t\t\t\tfont-size: 14px;\n\t\t\t\t\tline-height: 20px;\n\t\t\t\t}\n\t\t\t}\n\t\t<\/style>\n\t\t<div class='etoro-block-shortcode-disclaimer'><p>Tyto informace slou\u017e\u00ed pouze pro vzd\u011bl\u00e1vac\u00ed \u00fa\u010dely a nelze je pova\u017eovat za investi\u010dn\u00ed poradenstv\u00ed, osobn\u00ed doporu\u010den\u00ed, nab\u00eddku nebo v\u00fdzvu k n\u00e1kupu \u010di prodeji jak\u00fdchkoli finan\u010dn\u00edch n\u00e1stroj\u016f.<\/p>\n<p>Tento materi\u00e1l byl p\u0159ipraven bez ohledu na konkr\u00e9tn\u00ed investi\u010dn\u00ed c\u00edle nebo finan\u010dn\u00ed situaci a nebyl p\u0159ipraven v souladu s pr\u00e1vn\u00edmi a regula\u010dn\u00edmi po\u017eadavky na podporu nez\u00e1visl\u00e9ho v\u00fdzkumu.<\/p>\n<p><strong>Ne v\u0161echny zmi\u0148ovan\u00e9 finan\u010dn\u00ed n\u00e1stroje a slu\u017eby jsou nab\u00edzeny na eToro<\/strong> a jak\u00e9koli odkazy na minulou v\u00fdkonnost finan\u010dn\u00edho n\u00e1stroje, indexu nebo investi\u010dn\u00edho produktu nejsou a nem\u011bly by b\u00fdt pova\u017eov\u00e1ny za spolehliv\u00fd ukazatel budouc\u00edch v\u00fdsledk\u016f. <strong>Dostupnost v\u0161ech v\u00fd\u0161e uveden\u00fdch produkt\u016f a slu\u017eeb se m\u016f\u017ee li\u0161it v z\u00e1vislosti na jurisdikci a zemi.<\/strong><\/p>\n<p>eToro nezaru\u010duje p\u0159esnost ani \u00faplnost obsahu tohoto pr\u016fvodce a nep\u0159eb\u00edr\u00e1 v tomto ohledu \u017e\u00e1dnou odpov\u011bdnost. P\u0159ed vlo\u017een\u00edm kapit\u00e1lu se ujist\u011bte, \u017ee rozum\u00edte rizik\u016fm spojen\u00fdm s obchodov\u00e1n\u00edm. Nikdy neriskujte v\u00edce, ne\u017e jste p\u0159ipraveni ztratit.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Medv\u011bd\u00ed trh a b\u00fd\u010d\u00ed trh jsou dva pojmy, kter\u00e9 se v investi\u010dn\u00edm sv\u011bt\u011b \u010dasto zam\u011b\u0148uj\u00ed. Spole\u010dn\u00e9 maj\u00ed to, \u017ee se poj\u00ed k v\u00fdrazn\u00fdm cenov\u00fdm pohyb\u016fm a usnad\u0148uj\u00ed investor\u016fm orientaci na finan\u010dn\u00edch trz\u00edch. Poj\u010fte se s n\u00e1mi pod\u00edvat, co medv\u011bd\u00ed a b\u00fd\u010d\u00ed trh p\u0159esn\u011b znamen\u00e1 a jak je m\u016f\u017eete rozeznat. Pojmy medv\u011bd\u00ed a b\u00fd\u010d\u00ed trh pou\u017e\u00edv\u00e1me&hellip;<\/p>\n","protected":false},"author":75,"featured_media":914084,"parent":19761,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"sticky_cta_settings":"","footnotes":""},"asset_type":[],"class_list":["post-300448","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<title>Medv\u011bd\u00ed a b\u00fd\u010d\u00ed trhy | Co byste jako obchodn\u00edci m\u011bli v\u011bd\u011bt?<\/title>\n<meta name=\"description\" content=\"Co je to medv\u011bd\u00ed trh a jak poznat b\u00fd\u010d\u00ed trh? 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