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
Related ETFs: SPDR S&P 500 ETF (NYSE:SPY), iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM), PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) , SPDR Dow Jones Industrial Average ETF (NYSE:DIA), iShares Russell 2000 Index (ETF) (NYSE:IWM), Financial Select Sector SPDR (ETF) (NYSE:XLF)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
