if you bought the lows of the market in June 2022, why would you not take profits right now?

Taking profits now would just be long term capital gains.

Wouldn't institutions want to take profits now?

June 2022 was the 2nd best dip entry you will ever get, according to some people who believe the SP will never dip below 4000 again.

Everyone is touting multiple expansion… the market is going up, therefore you should buy more stock. Something feels very ponzi about it. You are paying a premium. I would rather buy the dip than chase the breakout.