The recent inflow into the ETF has been quite aggressive, and there are some positive stimuli, so the sentiment is quite high. The market has remained strong, with so much inflow every day and many positive news coming out.
Has it risen? Yes. Has it risen significantly? Under these conditions, it really doesn't count as much.
Looking at the daily chart of the current market, if it continues to move down, that would be fine. I won't say how low it can go, but around 97 is definitely not a problem. What is needed now is an opportunity, a chance for the wind to rise; just keep your bullets ready and wait for the wind to come.