Marc Faber : well, basically, we had since may 22nd, quite the sharp drop in markets around the world as in turkey we are down 15% from the high. japan also dropped from the recent high by 15%. in the u.s. many stocks have given up gains and they are no higher than in February. i think the market is rolling over. now very near-term we are a bit oversold and we may rally back to around 1660 on the s&p and 1670 and even on the back of the strength of Intel, Microsoft and IBM we could make a new high, but the new high would not be confirmed by the majority of shares so the market could be quite vulnerable.
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