I haven't seen many calling for the 1966-1974 kind of cyclical bulls, where a top was made, a sharp correction followed, and then another leg up formed a double top. It seems to be increasing as a possibility.
How do you tell the difference between a healthy pessimism/panic and an unhealthy one? We certainly have doom and gloom longs here. Don't know how widespread it is, but it is hard to believe it isn't pretty widespread.