The Trotters were looking over their shoulder sat the relegation zone a couple of months ago but now the Lancashire outfit find themselves in eighth place in the Championship table.
With just two points between themselves and Brighton in sixth place, Spearing, who is on loan from Liverpool, believes Bolton can just sneak their way into the play-offs before the end of the regular season.
He told BBC Radio Manchester: "In the first couple of months of the season we didn't perform as we wanted. Now we are and we're picking up results, the lads are all very happy.
"But we're not getting too far ahead of ourselves. We're still in eighth position and we still know we're behind the pack."