Klein Market Summary – April 29th, 2013

Klein Market Summary

April 29th, 2013


Current Market Facts:

Technical Status

 Correction Beginning Week 3

Other Observations

Some leading stocks continue to hold up

Indices are back up near highs


Feel of the Market

Earnings reports and Fed policy are in focus

Important Levels on Key Indices:



Last Close






Nasdaq 100




S&P 500








Market Interpretation:

The general market indices have bounced back up near highs.  The trend could go in either direction, at this point.  Two weeks ago, the indices experienced a level of Distribution that would lead to a market top, in a typical market cycle.  However, last week the indices rose for 5 consecutive days, including support at the 50 Day MA’s for the S&P500 and the NASDAQ Composite.

If there is to be a resumed uptrend, at this point, we would expect to see more market accumulation.  April 23rd was interesting as such, because it had the potential to be a Follow-Through Day.  Yet, it lacked in magnitude and volume was fairly quiet.  The end of last week had signs of stalling.  Still, this close to highs, earnings or Fed decisions can steer the market in either direction.

Joel’s Take:

Regardless of the eventual market direction at this point, market analysis suggests a defensive stance.  If the trend resumes higher, there will be plenty of time to increase exposure.  However, the end of April, the Fed meeting, and earnings are certain to shape market action in coming sessions.

  • The Klein Market Summary is a professional interpretation of the general stock market conditions that is updated on a weekly basis.  Joel T. Klein is the portfolio manager of the investment partnership Blue Diamond Capital, LP. He writes the summary using select technical and fundamental data.  The Klein Market Summary is not intended to provide investment advice of any kind, and is only provided for the entertainment of the reader.  It is typically updated Monday morning, weekly.  Please e-mail info@kleinasset.com, if you are interested in receiving this free weekly update.
  • Past performance is not a guarantee of future results.  Due to market volatility, a fund’s performance may fluctuate.  Current performance may be less than previous results.  An investment a hedge fund when redeemed, may be worth more or less than the original cost.  Information above is not a replacement for the Fund’s prospectus.  This webpage does not constitute any kind of offer or solicitation.  Additional information on investment objectives and policies is in the Fund’s prospectus.  Ask your representative for a prospectus.

About kleinmarketforum

Klein Asset Management, LLC, formed in 2003, serves individual investors via a directional growth stock approach. When the market is in an uptrend, the firm seeks to exploit investment opportunities. When the trend is down or neutral, assets are protected. Klein Asset Management undertakes major market research projects. In many cases, these result in improved investment methods, which ultimately improve performance.

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