Rydex Total Assets Update for Thursday, November 30th:
Regular Series:
SPX Long - NOVA 362.1 Million
SPX Short- URSA 299.2 Million
NDX Long - OTC 1,990 BILLION
NDX Short- Arktos 134.3 Million
XAU Precious Metals 37.6 Million
Biotechnology 547 Million
Money Market 1.563 BILLION
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Dynamic Series (200% correlation)
SPX Long - TITAN 55.7 Million
SPX Short- TEMPEST 24.4 Million
NDX Long - VELOCITY 98.2 Million
NDX Short- VENTURE 36.0 Million
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Today we got CAPITULATION. VIX and TRIN confirmed it alongside new lows in the NAZ 843 and NYSE 234 for a net total over 1000 new lows. For the record, we had 49 new NAZ highs and 127 new NYSE highs. This is exactly what we were looking for in last nights rydex update. To put the NAZ new lows in perspective, on the October 8, 98's meltdown- we only had 336 new lows. More recently, on November 17th, we had 541 new lows.
Now tomorrow we are going to get the bounce. If the bottom is truly in, we should look for New Highs to accelerate tomorrow to 200+ new highs in NYSE and 100+ new highs in NAZ.
My key litmus test BKX also confirms the bottom is in. Look at the range BKX intraday high of 836.68 and intraday low of 800.92. We did not even come into the neighborhood of critical support BKX 780. More importantly, once BKX took out BKX 815 it allowed the SPX to assault and take out SPX 1,300 to hit an intraday low of SPX 1,294.90. This was the final meltdown. And with the snapback we closed smartly at SPX 1,314.95 and BKX 823.80.
So in the face of death, the Bears come up short for the beloved BIG KAHUNA fantasy wish and now the Bulls get to throw a counter-punch.
To add to this markets conundrum, on deck in the election circus wheel is the U.S Supreme Court.
Rydex-
1)NDX OTC finally took out 2 bill in TA- CAPITULATION CITY.
2)Money Market same story capitulation as assets spike magic 1.6 billion vicinity.
3)SPX Long TITAN TA- now you see whites in eyes.
Tomorrow it is time for Bulls to dance.
Best Regards, J.T. |
