These big swing happen at or near tops and bottoms. Trouble is it can go in like this for quite some time. Just remember everything is always wonderful at the top. And it's always the end of the world at the bottom, this never changes.
Higher highs are being made on below average volume. If this was a normal market with out all the central banks interference I would say this is not healthy. However as everyone knows the central banks is intentionally bidding up the market, via the primary dealers. The rise in food and energy is hurting the most vulnerable humans, so what are they just the cost of doing business in the eyes of central bankers. Is all this really necessary.
My pullback style does not allow me to, unless I'm daytrading, which I very rarely do, as I'm mostly swing of the 60min timeframe or higher. Uptrending buy low grab a piece Downtrending short high grab a piece That's it