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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (11845)4/29/2002 11:36:03 PM
From: J.T.  Read Replies (3) of 19219
 
Rydex Total Assets Update for Monday, April 29th, 2002:

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

Money Market        1.701  BILLION**BULLISH Double Overbought 

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

Regular Series: (100% Correlation to Index (Nova 150%))

SPX Long - NOVA     220.4  Million**BULLISH Lowest Close Since 2/22/02 
SPX Short- URSA     271.9  Million**BULLISH Highest Close Since 2/28/02
NDX Long - OTC      674.6  Million**BULLISH Triple Oversold
New 3 1/2 Year Low
NDX Short- ARKTOS   140.8  Million**BULLISH  

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

Dynamic Series: (200% correlation to Index)

SPX Long - TITAN    117.6  Million**BULLISH 
SPX Short- TEMPEST  160.5  Million**BULLISH 
NDX Long - VELOCITY 171.5  Million**BULLISH       
NDX Short- VENTURE  186.8  Million**BULLISH 
************* 

Sector Funds:  
               
XAU Precious Metals  83.8  Million**BEARISH 
XOI Energy           38.8  Million**BULLISH  
OSX Energy Services  78.1  Million**BEARISH 
BKX Banking          48.5  Million    
BTK Biotech         183.2  Million**BULLISH Triple Oversold 
Near 3 1/2 Year Low   
RUT 2000 - MIKROS   125.2  Million**BULLISH  
RLX Retail           28.1  Million**BULLISH Double Oversold
Telecommunications    5.5  Million**BULLISH Oversold


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

The DOW 'theoretical low' blew thru the bottom of the 21 day 3 1/2% exponential trading band and we are now less than 50 points away from a 'print low' on assaulting this band indicator. At the DOW intraday low today we hit 14.81 on a 5 day RSI - that was after my earlier post when I recorded 16.14 on the DOW. We have reached these extreme RSI low levels only 5 other times in the last 3 years. And in nearly every case the counter trend bounce was violent.

And SPX, COMP, NDX are all at lower levels on a 5 day RSI reading.

The counter-trend launch begins no later than Wendesday, May 1st +/- 1 day.

Regular Series: 100% Long NDX OTC
Dynamic Series: 100% SPX Long TITAN

Best Regards, J.T.
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