It always makes me laugh when I see people calling a rebound from a crash a “pump”. I usually hear it from people who were too scared to get in low or are short. Be careful of what you allow your cognitive biases to convince you of. It’s the fastest way to lose money.
You didn't look closely enough. Because "the market" has different sectors and some sectors are pumped up into the stratosphere and others are still down. They average down to "slightly above ATH" but the pump is real.
I don't disagree with that at all. Tech, EVs, etc are all pumped. What you said seemed to be more of a generalization that the market as a whole is pumped. That, I disagree with. Money will rotate out of the overpriced sectors and back into the underpriced sectors as Covid is (hopefully) eradicated.
RemindMe! 12 months
Buying overpriced loss making investments is the fastest way to lose cash.