Really, if the market doesn't have at least a significant pullback this time, then there's something seriously screwy going on. I thought the underpinning of this bull market was the confidence that the PPT just wasn't going to let it go down, they'd keep pumping in more liquidity, so there was nothing to worry about. If Ben isn't going to be handing out free money anymore, then there's nothing left to drive it up except the Greater Fool Theory.
Maybe it's that by this point, nobody actually believes Ben that he'll stop buying? They probably figure that the Fed is starting to try to put out some more responsible-sounding rhetoric, but if they actually see a threat of a sustained trend reversal in the stock market, surely they'll step in again and pump in more hot air.