Check the chart on the Russell 2000 ... money is just pouring in. This isn't Wall Street buying .. it's the little guys, as little guys usually go for lower priced small cap stocks. Study history ... whenever the little guys jump in, it usually marks the end of the bull run.
We are over due for a correction in the whole market. When 2 great minds like Icahn and Buffet say the market is over valued, it's time to be cautious. The biggest bubble will be in US treasuries after the Fed stops buying them. A healthy 5-10% correction is needed in the market,
Another factor is the lack of fear by investors. Earnings, other than financials haven't been great.