The stock market is bipolar. Right off the bat we have Mr. Market assumed the disguise of either a bull or a bear. Sooner everyone realize they're not dealing with A Mr. Market, but Mr. Markets with bipolar personality disorder, the sooner they can devise a strategy to tackle this problem. Nature created two sexes. A good trader will answer to Nature's duality.
The market isn't bipolar...it's Perfect; it's rather....a thing of such beauty, complication and mystique. If you can understand it, digest it, observe it, trade it, time it...you can get wealthy like no other means.
Stock market is just a reflection of your mind. Different people see different things all looking at the same chart.
The stock market indices are more a measure of emotion (fear) than a gauge of the quality of the companies which are their constituents. The indices can run away upwards or downwards to levels which are beyond rational explanation in economic terms. In this sense I'd say the OP is more right than wrong.