The Dow Jones Industrials past the 11,000 mark for the first time since May 2001. Watch for the media types to begin howling about investors who missed the boat, and undoubtedly this will cause many to jump into the market at just the wrong time.

Could the hype and euphoria carry the markets for a few more rounds before it drops? Of course! In fact, market strategists like Peter Lee feel the markets could continue to new highs before reverting back to the next leg of the bear market phase.

The ideal scenario for the grand finale is a market that sells off and consolidates in the coming weeks, followed by one more euphoric attempt to the upside. Who knows if that will actually happen, we may be witnessing the top now, or over the next week or two.