To me, it's mostly a question of whether the mood is driving the events or the events are driving the mood. I can be sad while hypomanic if something bad happens. I will still laugh at a really funny joke or situation while depressed. But when nothing external is pushing me either way, how do I feel?

BTW, I have to remind myself of that a lot. I have repressed emotions a long time and I am working on getting past that, so I actually get confused also. Is this a short term emotional low?