MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (6298)	1/27/2001 3:21:58 AM
From: J.T.	Read Replies (2) of 19219

Rydex Total Assets Update for Friday, January 26th, 2001: Regular Series: SPX Long - NOVA 471.9 Million SPX Short- URSA 204.0 Million NDX Long - OTC 2,177 BILLION NDX Short- Arktos 58.5 Million XAU Precious Metals 46.4 Million Banking 92.3 Million Biotechnology 462 Million Money Market 1,067 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 97.1 Million SPX Short- TEMPEST 20.4 Million NDX Long - VELOCITY 198.1 Million NDX Short- VENTURE 36.0 Million ******************************************* XAU closed at XAU 48.51 down 26 cents but off the intraday low of XAU 47.68 and pulled a 100% retrace off the intraday bottom on Jan 12th. What is so compelling about the bounce off the bottom is the island break action we had today. We could experience the 1-2 day island reversal and assault that double upside gap that needs to get filled one at XAU 48.63- 48.78 and the more magnetic higher gap at XAU 51.66- 51.99. XAU 5 day rsi at 38.45 closing in at oversold levels. I will break down the individual stocks in the XAU this weekend. BKX closed at BKX 950.74 within 6 points of an all time high set on Jan 4 when A.G. pulled a 50 basis point intra-meeting FOMC mid-day cut. Rydex Banking TA still well off the highs. Still has room to run even though 5 day rsi at overbought 74.16. 5 day rsi levels could move up to 88 + levels before pulling back...BKX 1,000 assault is soon on deck. BULLISH SPX action today Bullish as it closed well off the lows only down less than 3 points. Look for NOVA/URSA TA(540/180) to now assault a 3/1 ratio long over short for at least 1 day before a pullback.. SPX 1,400 test is on deck. We closed at SPX 1,355. NDX will close that gap NDX 2,958-2,972 set on December 11-12 dead ahead. We closed at NDX 2,631.78. Then another pullback. NDX short Arktos below 50 million TA... book it.. Look for Money Market levels to close in on new 52 week lows below 800 million in TA... Then a pullback.. Best Regards, J.T.

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