Because everyone isn't looking for a pullback, but everyone who's bullish says everyone is looking for a pullback. It's a familiar cycle perpetuated by the lack of statistically significant data on the sentiments of stock trading boards. As someone looking for a pullback, I can tell you that I'm not getting a lot of agreement when I post pullback-oriented charts and wave counts. FWIW. People could be nodding in silent agreement to my charts, but my guess is that they're more likely to be saying 'poor deluded bear'.