Klein Market Summary-May 13th, 2013

Klein Market Summary

May 13th, 2013

 Current Market Facts:

Technical Status

 Confirmed Uptrend Beginning Week 3
   

Other Observations

Leadership has surged in recent sessions

Indices have remained under accumulation into new high ground

   

Feel of the Market

Money is broadly flowing into stocks from other asset classes
   

Important Levels on Key Indices:

Index

Support

Last Close

Resistance

Nasdaq

3400

3437

3500

Nasdaq 100

2937

2981

3000

S&P 500

1600

1634

1700

 DJIA

15000

15118

15500

 Market Interpretation:

The market continues to trend higher.  Broad institutional demand, spurred by global central banks and low bond yields, continues to persist, even after the market has rallied for four months.  The April shakeout, which would normally lead to a correction, has become a distant memory as new leadership expands.

When assessing support and resistance levels, all relevant resistance has been broken as the S&P 500 and the DJIA have surged to all-time highs.  The NASDAQ indices are back at levels seen when the bubble burst in 2000.

Joel’s Take:

The market has continued to trend higher, easily clearing resistance levels.  Breadth among leading stocks has continued to expand.  Many of the stocks that had already been leading in terms of Relative Strength have just achieved earnings growth in their recent earnings reports, such as TSLA and NFLX.

  • 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.
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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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