“This has been one of the greatest rallies in history,” Cramer said during Friday’s Stop Trading!, so a pause was inevitable. In fact, investors should see the market’s pullback as a good sign. It means this is a bull, and not a bear, market rally.
Momentum in the banks, which has led the market higher over the past week, slowed after the sector's CEOs met with President Obama. A number of firms seemed ready to pay back funds borrowed from the Troubled Assets Relief Program, but the White House apparently has asked them to hold off. Wall Street had expected these banks to use their newfound freedom to take a significant amount of market share. Now that will have to wait.