A bear market in which few investors wish to enter or close a position. That is, potential sellers do not wish to sell their positions, as doing so would lock in their losses, and they wish to wait until the market recovers at least somewhat. On the other hand, potential buyers do not wish to enter a long position because they believe the market will continue its decline. Graveyard markets tend to occur near the end of a bear market, but they are usually slow to improve.
A declining market with low prices that discourage investors from selling and with little interest among investors to buy.