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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: bobby beara who wrote (4208)8/25/2000 1:36:05 AM
From: J.T.  Read Replies (1) of 19219
 
Rydex Total Assets Update for Thursday, August 24th:

Regular Series:

SPX Long - NOVA     646   Million 
SPX Short- URSA     258   Million 

NDX Long - OTC      3,393 BILLION 
NDX Short- Arktos   99.2  Million

XAU Precious Metals 39.3  Million
Money Market        1,029 BILLION

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

Dynamic Series (200% correlation to Index):

SPX Long - TITAN    48.0  Million
SPX Short- TEMPEST  32.3  Million

NDX Long - VELOCITY 63.3  Million 
NDX Short- VENTURE  30.1  Million

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

This market is at its most overbought levels for the year bar none. 5 day RSI extreme overbought levels everywhere that I mentioned in my last post wreak of problems dead ahead for the broad market across the board. A minimum 2 to 3 day hard pullback should commence tomorrow (monday absolute latest). Whether it takes on an additional life of its own beyond this normal pullback remains to be seen.

SPX Short URSA Fund total assets has been below 263 million for 5 straight days - A record low. This single statistic alone reveals complacency abounds.

NYSE and COMP 5 day advancing issues vs. declining issues has only been up 2 of the last 5 trading days. This signifies exhaustion in this latest upleg and one must be on high guard of his financial house in fear of the reaper and thief go bump in the night.

Mr. Market is about to show no respect for the complacent long investor. BRING IT>

-Short SPX URSA Fund.

Best Regards, J.T.
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