In my opinion, investors should use this rally to exit any residual long positions. While the equity markets may continue to rally for a bit longer (momentum indicators remain quite oversold and may need longer to normalize), they don't have the solid foundation upon which long-lasting rallies are built.
Finally, one last bonus chart of the NYSE McClellan Oscillator (NYMO), essentially a momentum indicator for the Advance/Decline line. Extreme readings of greater than 50 or less than -50 are very good contrarian indicators. When the NYMO exceeds 50, it tends to be a good time to sell and when it falls below -50, it tends to be a good time to buy. Yesterday's reading clocked in at 105.77, the second highest reading in 20 years. You're welcome to buy here, but you'll be swimming up stream.