We are still in the bear market I believe. But what I see and observe is that some traders are taking advantage of the market dip which makes them profitable also. I guess bear mode is important because the market needs to go through a cycle and bear cannot be avoided.
Bear mood is definitely a good thing for investors to buy low and make a lot of money in the bullish times. It may not be the best for the market generally but for speculators it's game on for profit making.