The market price is a representation of the emotional state of investors and their feeling about the future. People are herding animals prone to crowd behavior. The majority of the herd driving the market at the moment "feel" like the the fed is going to support this market forever and they cannot lose. As the market rushes upward it is steadily picking up more people and converting them.
As the market slows and starts to go sideways people start to grow fearful about the future again and become prone to all simultaneously jumping off a cliff. People are starting to get a little edgy here and there but provided no black swans happen... Technically we should have months before a big 200 point+ correction because of the current weekly momentum. As long as the markets keep moving higher steadily peoples fears will not build up.
Anyway... That is somewhat how I think about the market.
LOL