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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (12170)5/11/2002 12:33:04 AM
From: J.T.  Read Replies (1) of 19219
 
Rydex Total Assets Update for Friday, May 10th, 2002:

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

Money Market        1.692  BILLION**BULLISH Overbought 
  
***************

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

SPX Long - NOVA     207.0  Million**BULLISH Oversold 
SPX Short- URSA     311.6  Million**BULLISH Overbought
NDX Long - OTC      620.3  Million**BULLISH Double Oversold 
NDX Short- ARKTOS   146.7  Million**BULLISH 

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

Dynamic Series: (200% correlation to Index)

SPX Long - TITAN    111.3  Million**BULLISH 
SPX Short- TEMPEST  186.0  Million**BULLISH 
NDX Long - VELOCITY 139.9  Million**BULLISH Double Oversold 
NDX Short- VENTURE  220.6  Million**BULLISH Double Overbought

Sector Funds:  
               
XAU Precious Metals  95.4  Million**BEARISH  
XOI Energy           39.3  Million**BULLISH  
OSX Energy Services  82.8  Million**BEARISH 
BKX Banking          56.3  Million    
BTK Biotech         163.4  Million**BULLISH Triple Oversold 
New 3 1/2 year Low
RUT 2000 - MIKROS    83.5  Million**BULLISH Oversold 
RLX Retail           18.2  Million**BULLISH Triple Oversold
Telecommunications    5.3  Million**BULLISH Double Oversold

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

Right back to square one at death support prior to the one day melt-up. Bear skepticism is justified as short covering permeated any quality follow thru buying power on the one day rally affair. Maybe the last two days action will get II below 48% Bulls or above 32% Bears. All other sentiment data is ripe for a sustained rally beyond one day, but until it happens it is show me state frame of mind.

BKX is primed again and in position to take out BKX 858 support, if it materializes next week, which would lead to waterfall to BKX 835 - 840 and final capitulation to SPX 1,036 - 1,038 and reversal. But until BKX 858 is pierced, we will head back up.

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

Best Regards, J.T.
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