Is Market Getting Overbought?

The S&P 500 is hitting more and more new highs, just barely in range of 1500 now.  After an extremely strong second half 2012 and a strong YTD in 2013...are we getting a bit too far?  A good indicator I've always used is the % of stocks that are above their moving day average.  As you can see below, we are getting close to the highs that usually indicate a medium term drop/consolidation.

Interesting thing to consider when you look to buy into the market some more...