The people who wanted to be long after Christmas, are already long and in the market. You just have to wake up, see the market higher, and count the gains! But the VIX capitulated today. The DOW was merely unch, and the VIX was still down 5%.
Most market behavior is due to irrational capital flows. It could be that the dumping of euros prompted capital flow into US stocks. Until a couple months ago, a strengthening dollar would correlate with falling stocks. Now it's the opposite: A weakening euro is correlating with rising stocks. None of this is important if you want to provide a service to the market and get paid. It will pay you for helping it liquidate positions that can not be sustained.