Maybe the fact that the Big Board stocks have been crashing for the last two weeks might have something to do with that.
Perhaps the bulls are just being cautious waiting for sales figures before getting brave.
Not a lot of optimism out there right now. Summer's always a crappy time for stocks too, even when there isn't a near depression going on. Hopefully things will pick up in the 3rd quarter, when farmers start buying equipment for harvest season. Fundamentals play a part in this too.