Of the 25 core ETFs that I follow, 18 are equity related. 8 are at either new 52 week or all time highs and another 6 are within 2% of 52 week highs.
Bullish price action indeed, but as a Systematic Trend Following trader, I simply follow the price trends for my time frame without any prediction, bias or emotional involvement. I know that trends can end at any time, or can continue into the foreseeable future.
I subscribe to the theory that markets don't get it wrong, but traders often do. Markets go where they go, regardless of anyone's opinion, and to maximize my risk adjusted returns, I follow price and adhere to my pre-defined entries and exits. We don't need to know what a stock or a market is going to do, to know what we are going to do, based on any outcome.
The price on the screen at any given time, is the exact right price at that moment, and is the only factor that determines P/L. My systematic process has pre-defined entries, exits and stops, so I know what gets me in and gets me out of a trade, but I don't try to predict when the signals will happen.
For the time being, equity markets globally are pushing higher, so we will continue to stay Long until the exit signals trigger, whenever that may be.