The phrase "market mood" refers to the overall feelings and emotions of investors in a financial market. It indicates how optimistic or pessimistic they are about the market's performance. Full definition
Once in a while the prevailing market mood is so pessimistic that you can look around and find many quality companies at low valuations based on readily apparent levels of profits. (behavioralvalueinvestor.com)
The bear market mood begins to creep into collective thinking late in a bull market. (socionomics.net)