For years, Marc Faber has been predicting the meltdown of US stocks, but only to see the markets climb higher.
In this CNBC interview a few hours ago Marc Faber was talking about the possibility of an up to 40% drop for US stocks.
Click 'Why US stocks could drop up to 40%' for the interview by CNBC
Marc Faber is not talking about my 12% major wave (6) correction where I assumed the mega wave 1 has more than 5 waves.
If it is up to 40% correction, it has to be the mega wave 2 correction, then the mega wave 1 has only 5 waves and it has ended when Dow has completed its ending diagonal triangle wave (xiii).
If mega wave 2 goes all way to the end of major wave (4), it will be a 42% pullback, I think this is what Marc Faber is talking about. At this moment he did not mention the possibility of a 100% retracement to 6,547 level, that will give a 64% correction.
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