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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (11996)5/2/2002 11:44:04 PM
From: J.T.  Read Replies (1) of 19219
 
Rydex Total Assets Update for Thursday, May 2nd, 2002:

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

Money Market        1.547  BILLION**BULLISH Overbought 
  
***************

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

SPX Long - NOVA     243.1  Million**BULLISH  
SPX Short- URSA     263.8  Million**BULLISH 
NDX Long - OTC      649.0  Million**BULLISH Triple Oversold 
New 3 1/2 Year Low 
NDX Short- ARKTOS   137.6  Million**BULLISH  

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

Dynamic Series: (200% correlation to Index)

SPX Long - TITAN    125.8  Million**BULLISH 
SPX Short- TEMPEST  171.1  Million**BULLISH 
NDX Long - VELOCITY 164.3  Million**BULLISH       
NDX Short- VENTURE  205.4  Million**BULLISH 
************* 

Sector Funds:  
               
XAU Precious Metals  69.8  Million**S.T. BULLISH  
XOI Energy           37.3  Million**BULLISH  
OSX Energy Services  94.3  Million**BEARISH Overbought
BKX Banking          58.3  Million    
BTK Biotech         178.7  Million**BULLISH Triple Oversold 
Near 3 1/2 Year Low   
RUT 2000 - MIKROS   171.1  Million**S.T. BEARISH  
RLX Retail           26.2  Million**BULLISH Double Oversold
Telecommunications    6.3  Million**BULLISH Oversold

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

NDX continues to get taken apart in a bifurcated market as SPX thru BKX holds serve. Rydex sentiment levels have worked off the Bullish froth over the last few days and the market is in position to assault SPX 1,105 intraday within the next few trading sessions. SPX closed at SPX 1,084.56 today. Strength in BKX kept SPX loss today to a minimum.

NDX cousin-proxy COMP tries to take out formidable resistance at COMP 1,695 in this next counter-trend leg up.. Right now, COMP is dangerously tight in taking out critical support at COMP 1,640. SOX tape ugly and like NDX has lost traction.

The market is much better positioned to move higher over the next few trading sessions sentiment-wise.

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

Best Regards, J.T.
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