CNBC's Jim Cramer sees multiple signals that the market is in the middle of a continued bull run, citing a mainstream thesis that suggests the retail investor is re-entering stocks.
"I am just amazed at the overall sense that 'when this ends, it's going to end horribly,' because it has ended horribly before," he said Wednesday on "Squawk on the Street."
Cramer referred to a USA Today headline that described this market as "Rational Exuberance," a sign that the retail investor is coming back.
"I think this is a very plainspoken 'end to bear market' thesis—not the beginning of a bull market—but end of the bear market. I like that," he said. "I'm looking at the possibility that we may be in for a decent run here."
(Read More: Rally Not Over Yet, but Stocks No Bargain: Cooperman)
Pointing to Europe, which has reached medium-term highs, Cramer said that "in these really horrible markets where there is real GDP negative growth, you sit here and you say, 'Hold it, we are better than they are,' how could we really sell off big if Italy and Spain and Germany are going up?"
"What I like is that there are bulls and bears. There have been other times where there have been strong bulls and weaker bulls. We have people [coming on CNBC] who fear every single Fed minute. Every single data point they fear, they say that this is the moment that it's over. In the meantime, they feared it from Dow 10,000," Cramer said. "They have no humility, they never admit it. They just keep talking. The wealthy people want to keep people in their 'paycheck chains,' because they have already made their money and you only need to get rich once."
(See More: Ignore The Really Rich Fearmongers: Cramer)
"There are enough major people at major firms" looking at the technicals who see buy signals in individual names, pointing to Disney as an example.
Cramer pointed out that many stocks are still beaten down from the previous market highs and still could be interesting plays. Using Bank of America as an example, he said "I don't particularly like the stock, but I can't make an investment case against Bank of America. Citi, I'm not a big fan of Citi, but down 90 percent, I'm willing to look."
"You can talk about really high quality financials where the book has been scrubbed clean that are selling at a fraction of where they were at the all-time high last time," he said.
(Read More: Perplexed? Cramer Says Think Like Mark Haines)
You don't see people selling their businesses and borrowing against their 401(k) plans to be all-in in the market, Cramer added, which makes this rally different than during the dot com bubble. However, he said that one unfortunate idea many believe is that the stock market "is not a place to make money—it's a place to risk money—and that hasn't changed with these all-time highs."
— By CNBC's Paul Toscano. Follow him on Twitter and get the latest stories from "Squawk on the Street" @ToscanoPaul
