Graveyard Market

The period near the end of a prolonged bear market. In a graveyard market, long-time investors have taken large losses, while new investors prefer to stay liquid by sitting on the sidelines and keeping their money in cash or cash-equivalent securities until market conditions improve.

Investopedia Says:
The term graveyard market is an apt description of this market phenomenon: the investors in a graveyard market can’t get out of it, and the investors who aren’t in it don’t want to be.

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Bear market wherein investors who sell are faced with substantial losses, while potential investors prefer to stay liquid, that is, to keep their money in cash or cash equivalents until market conditions improve. Like a graveyard, those who are in can't get out and those who are out have no desire to get in.