Some Things To Consider

Percentage of stocks trading above their 200 day moving averages:  74%  This is very high and has often signalled either a period of correction or consolidation.

Percentage of stocks trading above their 40 day moving averages: 54%.  This is down from a high in mid-February of nearly 85% and is indicative of the fact that breadth on the exchanges has been declining in recent weeks.  This means that the advance is being led by fewer companies.

New high/low ratio: 74%.  Again an elevated reading.

26 Week New High/Low ratio:  82%.  Also elevated.

Our proprietary money flow analysis statistics:
Short term:  Overbought and declining.
Intermediate:  Overbought.
Longer term:  Overbought.