Well, that depends - are you at the beginning or end of fermentation?
No CO2 coming out of solution is definitely a sign that there is no fermentation occurring, but it's far from definitive.
If you're at the end check your gravity one day and then two days later - if it's the same then you have no signs of fermentation.
If you're at the beginning of fermentation check the pH of whatever you're fermenting - it should be lower than when you pitched - that's a sign that fermentation is getting ready to start.