I think we will test the July lows of last year, the S&P at 1,010

Marc Faber : “I think they did the right thing that they didn’t allow QE3. They can watch the reaction of assets, whether they will go lower. I think the market is more likely to move still lower. We are very oversold. We can have a rebound like we did today, maybe we’ll have a rebound next week or so, but in general I think we will test the July lows of last year, the S&P at 1,010. After that, probably we’ll get probably a QE3 announcement.”  - in Bloomberg



Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.