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Ignore the Dow, the S&P is more useful. The Dow is only 30 stocks, S&P 500. Much better barometer on what the market is doing.
Index funds simply buy what is on the index. That is why their fees are low. Con is that you won't ever beat the market, just follow along.
As far as when will it stop climbing, if someone can answer that they will be a billionaire. Don't focus on the short term, think long term. The market generally follows a pattern of ups and downs. I am a little worried because this current upswing is lasting longer than normal. But no one really knows diddly squat.
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