FTSE - So where is the support

I used to be part of an email investment forum that pulled maybe 500-700 emails per day. Untill 2000, when things tailed off......
Hardly any of those guys have got back on board in any big way.
I really believe that many investors have got it into their heads that 'everyone' is on board, and willy-nilly buying into the rally.
I just don't see it. The huge amount of private investors that got burt in 2000 are still cautious. That is as clear as day.
Just because a picture of 'everyone' throwing caution to the wind fits the story of the current rally, does not mean that that is the reason for it.