I'm very good at spotting patterns after they've happened, and also at pointing out the handful of managed funds that beat the indexes after they've done so.
As far as figuring it out ahead of time...eh, not so much.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.