McHugh is looking at the formation of a developing and now nearing completion huge megsphone chart pattern for the Dow Jones Industrial Index. Once complete, perhaps in 2013, equity markets will enter a huge multiyear decline. Perhaps this time the catalyst will be the collapse of the huge debt bubbles in Europe, Japan and the United States.
From Robert McHugh's Dec2012 Safehaven Report.
"We believe stocks are making a final rally to a major top, a top for the centuries, and a Grand Supercycle degree Bear Market will start upon this rally's completion. There is a Jaws of Death pattern in stocks that has been forming for two decades. It is very close to completion, needing one more rally, a strong rally, that takes prices to the top of the pattern's upper boundary. Then, after reaching that height, a Bear Market for the ages will begin, something that will be greater than the Bear Market of 2007 to 2009, and greater than the Great Depression of the 1930's. Below we show this Jaws of Death stock market pattern."
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