But that does not mean the rally cannot resume again if the news is not bad.
After the most recent correction-free rally, which ended in May 1996, the decline was 7.6 percent before the rally resumed.
The dollar's rally resumed yesterday despite efforts by central banks to curb it.
The dollar's rally resumed despite continued dollar-selling by central banks around the world.
He predicted that early next week the rally would resume and push the Dow above the 2,400 level.
"But we may have to wait a few weeks before the rally resumes."
On Tuesday, rates fell below 7 percent for the first time in 14 months, and some traders and analysts expect the rally to resume soon.
Once that happens, perhaps in a few weeks, the rally will resume, they predicted.
As such, yields will need to drop even lower to confirm that the rally at the long end of the bond market has resumed.
They knelt on the pavement for a minute or so, then resumed their rally.