No pullback is to allow you to buy when he is offloading;
No rebound is to allow you to sell when he is accumulating.
If everyone is waiting for a pullback, then the expected pullback will be hard to come by, because smaller-level pullbacks will be bought up by more anxious funds.
If everyone is waiting for continued rise, then the expected rise will not occur, because everyone's underlying message in waiting for the rise is:
There are no more buyers left...