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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (3551)	6/20/2000 12:59:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

Rydex Total Assets Update for Monday June 19th: SPX Long - NOVA 705 Million SPX Short- URSA 317 Million NDX Long - OTC 3,575 BILLION NDX Short- Arktos 93 Million XAU Precious Metals 48 Million Money Market 887 Million It was a tech rally all the way as INTC, IBM and HWP provided all the points for the DOW. DOW closed up 109 to DOW 10,558. SPX up 22 to SPX 1,486 was broad-based as BKX bounced to close up to BKX 777 but still fell short of once critical support BKX 780. BKX 780 is now resistance. Higher resistance is BKX 800. For Bulls, BKX needs 2 closes above BKX 800 to regain momentum to carry SPX another level higher. UTIL is slowly drawing near UTIL 318 critical support as it closed down to finish at UTIL 323.5. One close below UTIL 318 and BKX stalling right here below 780 will stop SPX rally in its tracks. I do not believe techs getting all lathered up today will be able to carry SPX on its shoulders alone.. it will be atlas shrugged. XBD finished strong and MER is rocking - a testamonial for Bulls. XAU in Rydex show capitulation as fall below magic 50 million for first time since 4/28. NDX closed at NDX 3,933 and filled that gap we mentioned on Friday in MITA 3,548: ...<We had close of NDX 3,829 on 5/1 and gap close of NDX 3,909 on 4/11 that needs/wants to be filled. No NDX closing numbers in this 80 point remote island since 4/11 thru today 6/16>... NDX has momentum for NDX 4,000 + - can it deliver the knock-out punch or is it time for a breather? I have mentioned upside resistance NDX 4,150. Best Regards, J.T.