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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (8041)7/3/2001 5:47:53 PM
From: Bull RidaH  Read Replies (1) of 19219
 
JT,

The record high date for the bullish stance on Rydex Dynamic Long was 1/23/01. The bulls threw everything they had but the kitchen sink on that particular day because it was the first day where the key indices closed above the 1/3/01 high (significant due to the surprise rate cut). On 1/23, Dynamic long totalled 394.1MM. This number held steady into the end of the month high. At the 2/26/01 bounce peak, Dynamic Long totals bounced back to 335.2.

Now getting to more recent & relevant activity, the 5/22 rally peak saw the Dynamic Long totals rise to 316.6, and the 6/05 bounce peak found the D.L. totals back up to 317. Going into end of quarter window dressing on 6/29, D.L. levels were up to 327.8, and mushroomed to 361.7 on Monday 7/2's close to attempt to game the holiday-shortened pre 4th rally scheduled for today. -g-

Recent history suggests rallys appear to be stalling when DL totals rise above 315. And 7/2's 361.7 total is just a stone's throw from the late January super speculative and 180 degree wrong euphoric mega bets on a bull move. The ability to arouse this level of bullish certainty with the NDX 30% lower & the S&P 500 10% lower than the 1/30 levels is awfully suspicious.

Thanks for all your hard work here on this thread.

David
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