In a recent USA Today article, famed investor Ken Fisher offered advice on how to discern between a bear market and a bull market “blip”:

Referring to the market dip that occurred earlier this month, Fisher advises, “If you’re fully invested, sit on your hands. Hard! For cash holders this action prescribes buying. Always stay cool. Fight any urge to sell. It’s all signaling more new highs ahead.” Bull markets, says Fisher, “don’t end this way.”

Fisher points out that the latest bump felt “extraordinary because the prior 14 months were unusually non-volatile, without any down days uglier than 2%.” He adds, however, that during the nine years of this bull market, we’ve seen 52 similar events.

“During corrections,” writes Fisher, “media and market mavens invariably search for justifying causes. What made it happen? Why? By the time they agree, it’s all over.”

The February sell-off, Fisher argues, “isn’t how bear markets start.” For now, he says, “patient, diversified, owners of big, high-quality stocks should see happier times ahead in the bull market’s next up-leg.”