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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (5445)12/6/2000 12:08:11 AM
From: J.T.  Read Replies (5) of 19219
 
Rydex Total Assets Update for Tuesday, December 5th:

Regular Series:

SPX Long - NOVA     481.9  Million
SPX Short- URSA     224.0  Million**(new low)

NDX Long - OTC      2,331  BILLION
NDX Short- Arktos   92.7   Million

XAU Precious Metals 40.9   Million 
Biotechnology       559    Million
Money Market        1.225  BILLION

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

Dynamic Series (200% correlation)

SPX Long - TITAN    124.8  Million**(new high)
SPX Short- TEMPEST  21.1   Million 

NDX Long - VELOCITY 177.6  Million**(new high)
NDX Short- VENTURE  20.9   Million

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

Look at this post from last night rydex update and then look closely at the emboldened long and short funds today:

...<Long assets have room to run in this latest reading on the one hand and will certainly play catch up and mushroom higher over the next few days.

...Yet short funds are still at very low levels which is quite negative given the lower market levels we are at right now. If short funds continue lower, specifically, if SPX URSA has one close below 200 million in total assets and it is confirmed by sloppy action in major indices- it will be time to abandon long positions down the road and potentially get short>...

1)Dynamic series double your pleasure total assets in SPX Long TITAN DOUBLES OVERNIGHT and Long NDX VELOCITY shrooms to nearly double total assets.

TOTAL ASSETS IN BOTH DYNAMIC LONG FUNDS HIT NEW HIGHS.

Can the market go higher and these assets continue to build? Yes. But it will be a short party to rally on lets enjoy this run while it lasts. This sentiment index clearly reveals BEARISH intermediate and long term consequences. For the short term - we are BULLISH.

2) SPX Short URSA hit a new total asset low today. I have marked 1 close below 200 million with sloppy type index action and lights out for a pullback. This capitulation reading below 200 million total assets could come tomorrow night with another strong close.

3) XAU. Now you know why it doesn't pay to chase the XAU higher in the face of double overbought levels. The XAU got creamed today to close at XAU 47.94 (from XAU 50.36 yesterday) down 2.39 down 4.75%.

Now I am licking my chops to get back into this XAU Precious Metals on one more down day tomorrow with SPX upside follow thru.

Look at this XAU 60 minute chart the intraday low from 41.85 on Nov 17th to the intraday high yesterday XAU 50.36 on December 4th. Tomorrow we get the minimum intraday pullback to the 2/3 fib level 47.49, but what I am hoping for and given the strong support at XAU 46 is a 50% retrace to this 46.06 level and get your arse long the XAU and select gold stocks like NEM, PDG and HM.

charts-d.quote.com:443/976077863150?User=demo&Pswd=demo&DataType=GIF&Symbol=INDEX:XAU.X&Interval=60&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10&BgColor=0.255.0&TBgColor=0.255.0

Still 100% Long SPX NOVA (it is 1.5 X double your pleasure to the SPX) until BKX intraday high BKX 860 to 880 is penetrated and this could happen tomorrow. If this happens coupled with lower prices in the XAU targeted fib zones, I will rotate money out of SPX for a breather and into XAU.

Best Regards, J.T.
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