Markets may have more optimist than I initially thought!

The biggest show of the year will be the reversal of S&P and other markets together. When if finally happens some good opportunities may present themselves to the sane-minded investors. I thought S&P had already reversed, but now I have doubts. It is still possible, but looking at other markets I find that there is still some good share of optimism left.
What I mean is the following - had Greece pre-default state occured in the declining market, we would see a sell-off 10% order of magnitude. What we saw instead was a mere correction. This means one thing - market optimism took a small hit but did not break. There is still free cash left in the pockets and the market will keep chasing it until everybody is long.

CAC40 is an example. Judging by the wave count I think some more upside is left, and it will be realized by the market in the upcoming 6-8 weeks. Fibo 0.886 will be my aspirational target. I will buy myself some Chablis if we get there.