Tuesday, August 19, 2014

Marc Faber explains why the Market rallied higher last week and where it is heading next

We had a significant correction in many shares, and the markets on a very short-term basis were extremely oversold with only 20 percent of shares above the 50 day moving average. 

Now a rebound is underway in my opinion. But I doubt we will make new highs, and if we make new highs, maybe just with the very limited number of shares, because the technical damage is quite significant.