Faber says: “I think right now the technical picture is so horrible that I would use a rebound as a lightning up opportunity. I think [equities] will move lower… maybe after three months people will wake up and scratch their heads and say now, we know why it started to go down, because maybe there is geo political problems, maybe the Middle East blows up, maybe the economy is horrible.”

“The best [the Fed] could do for markets would be to collectively resign.”