The S&P 500 (SNPINDEX: ^GSPC) has rebounded sharply from its bear-market lows, and the broad-based index is now within 6% of its all-time high, putting it on the cusp of a new bull market. But Warren Buffett famously warned investors to "be fearful when others are greedy," and that advice is particularly relevant now.

A stock market indicator known as the CNN Business Fear & Greed Index currently signals extreme greed, which hints at a possible decline in share prices in the near term. In other words, the S&P 500 may linger in bear-market territory for a little while longer.

Here's what investors should know.

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Source Fool.com