"My view is that the market has experienced everywhere huge technical damage. As of today, all markets are extremely oversold, so a rebound is going to happen (Friday) or on Monday, but the damage technically is so great that the rebound, no matter whether QE3 happens right here, it's unlikely to lift markets above the May 2 high of the S&P 500 at 1370." - in CNBC, August 5
Related: SPDR S&P 500 Index (SPY)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
