thursday 4800? , page-44

Just to play devil's advocate against all you perma-bulls ;)

I've noticed few interesting similarities between now and the 2007 high, albeit on much smaller scale.

-divergence of the leaders (as represented by DJIA) and masses (SPX). DJIA has made a significant new high SPX has not.

-divergence of US financials from rest of market (BKX has been falling for some time rest of market has had another rally).

-fundamentals of financials measured by indices of mortgage backed securities are falling also (see chart below for example).

The most recent rally had the feel of a pump and dump a bit like a mini-2007.

Just thoughts - I'm not wedded to it.