It's worth repeating. Stock prices won't rise forever:
Very early in my career, a veteran investor told me about the three stages of a bull market.
Now I'll share them with you.
• The first, when a few forward-looking people begin to believe things will get better
• The second, when most investors realize improvement is actually taking place
• The third, when everyone concludes things will get better forever
(Book Source for the Quote: The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor, Howard Marks)
I think we are past stage 2 and headed towards stage 3. But it's difficult to estimate the stage 3 timeframe even for the most experienced investors and traders.
Be cautious and use trailing stop losses for long positions at these levels remains my personal advice.
A good gauge when stage 3 is near: Rising interest rates mixed with higher volatility (absent any catastrophic, high-impact event that could turn the markets to the downside faster of course).