Consider this possiblity. If the current market is devoid of any extreme fear or greed (ie. optimism) this is an indication of uncertainty. Typically uncertainty can be a turning point.
In particular, over the past week or two, I've noticed a large % of the charts I'm looking at have been in an uptrend, have broken trend lines, are moving sideways with diminishing volatility. To me they're screaming that a change is about to occur.
I don't have many unshakable beliefs about the market, but one I do have is: periods of volatility follow periods of quiet, and vice versa. It's the only sure cycle in the market.
Just my opinion.
