Usually what happens in the market, we have seasonal strength in January, then weakness in February, then strength in March-April and then weakness in May-June and then again a summer rally in July until early August.
So, we are moving into seasonally strong period. But unlike many strategists, I don’t think we are going to make a new high. I think the S&P or the overall market in the U.S. will close 2011 at about this level or lower not higher as every strategist is predicting. I think we have seen the highs for this year, let us put it this way. - CNBC TV-18
Tickers: SPDR S&P 500 ETF (NYSE:SPY), ProShares UltraShort S&P500 (ETF) (NYSE:SDS), iShares Russell 2000 Index (ETF) (NYSE:IWM), PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ), ProShares UltraShort QQQ (ETF) (Public, NYSE:QID), SPDR Dow Jones Industrial Average ETF (Public, NYSE:DIA), Apple Inc. (Public, NASDAQ:AAPL), General Electric Company (NYSE:GE), iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM), Financial Select Sector SPDR (ETF) (NYSE:XLF), Netflix (NFLX), Alcoa (AA)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
