Weekly Market Outlook May 22, 2016

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Weekly Market Outlook:
Pfäffikon SZ, Switzerland – Since mid-2012, there has been accumulation and participation in the S&P 500. Currently, the market tends to the termination of an exuberant price pattern, which emerged in 2015. The upside potential in the S&P 500 is relatively limited. The downside risk, however, is in our opinion sharply higher, even though many economic indicators show a mixed picture.

The next week seems to be a quiet week for investors. Our focus is on the durable-goods report on Thursday. Friday, Fed President Yellen will give a speech that will be considered important by investors.

This material is communicated on May 22, 2016 by Thirteen Asset Management AG, Rietbrunnen 20, 8808 Pfäffikon SZ, Switzerland. This material is for information purposes only and is not intended to be a solicitation or invitation to invest. Any organizations or products described in this material are mentioned for reference purposes only. This material is intended only for investment professionals and professional clients and must not be relied upon by any other person. It is proprietary information of Thirteen Asset Management AG and may not be reproduced or otherwise disseminated in whole or in part without prior consent from Thirteen Asset Management AG. Alternative investments can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of trading performance and past or projected performance is not a reliable indicator of future performance. We recommend to consult your bank, investment and/of tax adviser.