What are the signs that a bull run -- or a declining market -- are ending?

There are always a lot of comments about when a market might be about to change direction. There are "signs" according to the commentators about when a bull run is ending and when a slumping market are about to turn.

The bull runs seem to end when that particular market gets all of the front page headlines and is the big story on the TV news -- and makes the cover of Time magazine as in the classic covers of the Wall Street Bull breaking through a page of stock market quotes.

The slumping markets seem to end when commentators are talking about "blood running in the streets" and there is no one buying. It seems that when market sentiment is at its lowest, the market turns up.

And when market sentiment is at the very high levels, the market turns down.

What are the signs you look for?

Today, I got a "warning sign" from a friend who owns a flooring and tile store. The warning sign? He asked me about opening up a store to buy silver and gold! And he's talking about converting part of his flooring store into a gold/silver trading company.

Wow, if that's not a sign of market euphoria and a sign that the bullish metals market is about to turn I don't know what is?