Rydex Total Assets Update for Monday, September 25th:
Regular Series:
SPX Long - NOVA 453 Million
SPX Short- URSA 284 Million
NDX Long - OTC 2,984 BILLION
NDX Short- Arktos 131 Million
XAU Precious Metals 36 Million
Money Market 1,767 BILLION
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Dynamic Series: (200% Correlation to Index)
SPX Long - TITAN 48.5 Million
SPX Short- TEMPEST 23 Million
NDX Long - VELOCITY 89.3 Million
NDX Short- VENTURE 56.1 Million
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Yesterday was a bad close as we opened higher to intraday high of SPX 1,457 and closed below SPX 1,440 for the first time since August 2nd to SPX 1,439. Also, NDX hit intraday high above NDX 3,770 and closed at session lows NDX 3,622. This is only 40 some points abovecritical support NDX 3,580 the line in sand between Bulls and Bears..
I have mentioned 2 closes below SPX 1,440 with confirmation of one close below NDX 3,580 will accelerate selling and change in sentiment. It will be point of recognition for Bulls all is not well. So today MUST BE a RALLY DAY. NO EXCEPTIONS.
UNTIL SPX 1,440 is taken out 2 closes in a row I AM STILL BULLISH.
I do not like Rydex complacent total asset closing levels in face of bad market close and I will monitor this very closely going forward.
We have gone full circle from back to back SPX 1,438 closes at beginning of August. We must hold and rally today or else.
MSFT case will not be heard in fall term and maybe this will be the beginning of the bounce Bulls need.
Best Regards, J.T. |
