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.