I wouldn't call it "the return of bulls" per se......not in the sense of a real bull market. A mid-term uptrend could easily be a correction in a larger bear market. For example, it could be the B wave in an ABC Elliott wave correction. More on that here: http://www.elliottwave.net/educational/basictenets/basics3.htm

Due to the magnitude of the rally last year, I have to assume there will be continued distribution (selling) into any mid-term bull run. There are too many bagholders that need to exit, and too many long term holders that missed the opportunity to take profit last year.