Some markets are still strong, but the bulk is no longer moving up. 

“The Fed has basically created with their colleagues in Japan and at the European Central Bank (ECB) and the Bank of England (BOE), they’ve created a colossal asset bubble. And the returns going forward will be disappointing,” said Faber. “The composition of an index is that it’s usually capitalization weighted. So one stock that goes up vertically could theoretically drive up an index and 99 percent of the shares don’t make new highs.”“Some markets are still strong, but the bulk is no longer moving up so the advance of asset price inflation has been narrowing significantly,” Faber said.

also:

Dr Doom Calls Bubble, adding to Gloomy Calls

The Federal Reserve has inflated an asset bubble and that`s going to damp market returns, perma-bear Marc Faber, publisher of The Gloom, Boom and Doom Report, told CNBC Tuesday. “Say you`re a young person and you`re just starting to work. So take me in the 1970s. In the US, with 20 hours of work, I could buy the SandP 500. Now you need more than 90 hours of work to buy the SandP 500 if you`re young, with a medium income,” Faber told CNBC in an interview. “The Fed has basically created with their colleagues in Japan and at the European Central Bank (ECB) and the Bank of England (BOE), they`ve created a colossal asset bubble. And the returns going forward will be disappointing.”

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Faber: Markets Are Manipulated by Clowns in Central Banks