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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (9008)10/17/2001 2:07:34 AM
From: J.T.  Read Replies (3) of 19219
 
Rydex Total Assets Update for Tuesday, October 16th, 2001: 

Regular Series:

SPX Long - NOVA     277.9  Million**BULLISH   
SPX Short- URSA     256.9  Million**BULLISH 
NDX Long - OTC      885.9  Million**BULLISH    
NDX Short- Arktos    84.2  Million  
               
XAU Precious Metals  40.6  Million**BULLISH  
Energy               43.5  Million**BEARISH 
Banking              32.9  Million**BULLISH  
Biotech             310.7  Million     
Money Market        1.266  BILLION**Lowest close since 8/27

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

Dynamic Series (200% correlation to Index)

SPX Long - TITAN    127.6  Million   
SPX Short- TEMPEST  113.7  Million**BULLISH   

NDX Long - VELOCITY 168.1  Million**Highest close in 2 mos (8/14)  
NDX Short- VENTURE   80.0  Million

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

This counter-trend back up is getting set up for the pullback as evidenced by MM TA and NDX Velocity levels. IBM and INTC seem to have come in line with earnings after the bell and Bulls are chomping at the bit to get back in.

COMP and IIX and DOT above double overbought levels now on the 5 day rsi, while NDX, all tech indices and DOW in overbought region. SPX and BKX have the most upside potential as they are still below overbought levels.

Meanwhile, the XAU climbs $1.27 higher up 2.35% to close at XAU 55.39 the top tick for the day. This is the highest close since the breakdown on October 8th (XAU 57.10). There is an upside gap that needs to be filled XAU 56.82 - 57.10 and the 5 day rsi is neutral at 52.75. These two taken together with Precious Metals TA still paltry 40 mil and we go higher after the morning pullback.

Regular Series: 100% Long XAU Precious Metals
Dynamic Series: 100% Short NDX Venture

Best Regards, J.T.
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