The market has been heating up for sure but it is over-heated. In addition, the economy and the market has been non-correlated for a long, long while. It will correlate again and then the market will face reality (and likely crash).
When everyone including the shoe-shine boy invests in the market, the market is risky.
Today the market is fundamentally unsound but technically sound. Run when it is technically trending down.
My blog on detecting market crash: