According to a major bank, a pair of noted economists, and one controversial billionaire, 2013 will be a “year of terrible reckoning” for the stock market.
JP Morgan just released its outlook for the first quarter. Surprisingly, this regularly bullish company has reversed course and revealed an ominous chart that every investor needs to be alerted to.
As you can clearly see, stocks have retraced the pattern from the last two big market rallies (averaging over 100%), and now face a massive decline in 2013 (of over 50%).
JP Morgan isn’t alone in its stark predictions.
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This is a must-read article. Additionally, by looking at the chart above, one can clearly see that from ’97 to ’00, it was a moderate uphill climb, followed by a very similar descent. In ’02, it took much longer to get to that high market rally point before descending much more rapidly than the previous fall. The ’09 ascent will likely not top off for several more months, suckering in more market-players before crashing faster than ever before.