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

To: J.T. who wrote (3560)	6/21/2000 12:18:00 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

Rydex Total Assets Update for Tuesday June 20th: SPX Long - NOVA 618 Million SPX Short- URSA 308 Million NDX Long - OTC 3,593 BILLION NDX Short- Arktos 100 Million XAU - Precious Metals 43 Million Money Market - 1,037 BILLION A slight decrease in the SPX Short URSA assets even in spite of the 10 point down day in SPX show investors do not want to play the short side but want to participate in another leg up. The DOW gave up all of yesterday's gains and then some to close at DOW 10,435 - dictating that the diamond formation is closer to rearing its ugly head like the thief in the night. BKX failed the simple BKX 780 test and this is the third consecutive closing day below this now resistance level. Certainly BKX can have this one day close above 780 tomorrow or soon thereafter, but you now need two consecutive back to bake closes above BKX 780 so you don't get that one day false upside trap. - One day above, followed by the close right back below. XAU assets have now been shaved in half from 5/16 close and if tomorrow is slightly lower, a play for a smart bounce is in the picture. Must hold above XAU 56.54 to perk my interest for a trade. Tech is now overbought and ORCL revenues were light. Now comes the pullback in NDX et al... Best Regards, J.T.