I think it`s going to be very difficult for markets to make a new high above (in the case of the S&P 500 Index), the May 2 high at 1370. I think there is a lot of supply between this level, 1260 and 1350, so I doubt we will see new highs.
But that does not mean the market cannot rally another 5 percent or so.
ETFs, SPDR S&P 500 ETF (SPY), ProShares UltraShort S&P500 ETF (SDS)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
