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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: bobby beara who wrote (4174)8/23/2000 2:48:06 PM
From: J.T.  Read Replies (1) of 19219
 
Rydex Total Assets Update for Tuesday, August 22nd (late):

Regular Series:

SPX Long - NOVA      609   Million
SPX Short- URSA      254   Million **new low**

NDX Long - OTC       3,262 BILLION
NDX Short- Arktos    106.3 Million

XAU Precious Metals  39.8  Million
Money Market         1,080 BILLION

***************************************************

Dynamic Series (200% correlation to index):

SPX Long - TITAN     48.7  Million
SPX Short- TEMPEST   31,3  Million

NDX Long - VELOCITY  59.9  Million
NDX Short- VENTURE   37.4  Million

*****************************************************

Yesterday I mentioned we had room for one more hard pop up on the NDX and SPX and it looks like we are going to get it.

NDX I would like this close over NDX 3,900 before we pull back and SPX up double digits for the rug to get pulled on the capitulated late comers for 2 to 3 days and it looks like this will materialize.

NDX is now at NDX 3,885 and SPX is +6.70.

Notice yesterday I mentioned assset levels in the SPX Short Ursa Fund need to get below 250 million and we closed at 254 million on a down day. Today ought to show capitulation below 250 million tonight after money capitulates out of the SPX Short Fund and rotates long for the short whipsaw.

The2 to 3 day pullback should begin tomorrow, No later than Friday. Enough of a minor scare to put additional seeds of doubt in the market before the next hard move up.

Best Regards, J.T.
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