The Looming Financial Holocaust。

but are likely to be overwhelmed by the ferocity of the decline in the broad market should it break down from its Head-and-Shoulders top. The 15-month chart for the HUI index shows recent action in more detail. On this chart we can see that the index did not break down from its uptrend in force from last February on the recent severe drop in the broad market， partly due to the BP fiasco in the Gulf of Mexico， especially as this pattern is confirmed by similar bearish patterns in other markets as we will shortly see. The 4-year chart for the SP500 index is interesting as it reveals why the index topped out where it did in April - it had arrived at strong resistance approaching the giant 2000 - 2007 Double Top. This chart also makes it abundantly clear that this so-called bullmarket was nothing more than a sizeable bearmarket rally. Copper has such a good record of front running major market moves that it has earned the nickname Dr Copper as it is frequently a good gauge of the future health of the market. So it is interesting and appropriate for us to take a look at the copper chart now. The 5-year chart for copper presents a bleak and ominous picture， and now appears set to mark out a Right Shoulder before finally breaking down and plunging. This hardly augers well for the world economy.