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

To: J.T. who wrote (3726)	7/7/2000 7:33:22 PM
From: J.T.	Read Replies (3) \| Respond to of 19219

Rydex: Please note previous post MITA 3,726 was for Thursday, July 6th (not Friday). They did not report the numbers until this morning. Rydex Total Assets Update for Friday, July 7th: SPX Long - NOVA 647 Million SPX Short- URSA 276 Million NDX Long - OTC 3,485 BILLION NDX Short- Arktos 91.8 Million XAU - Precious Metals 44.3 Million Money Market 903 Million SPX Long/Short did not get to 3/1 relationship needed for high probability short term momentum trend change as SPX fizzled right before decisons had to be made. Had we gathered momentum into the last hour it would have been capitulation city by bears. Now Monday is important follow thru day for Bulls and one of few last stands for Bears at this market juncture. I think the near-term trend will be decided by the bell on Tuesday whether we have a new leg up or another backtest of support levels. I will try to recap and update new support and resistance levels Sunday night. Family time. It must be noted that failure of SPX to take out SPX 1,480 was a major victory for Bears. Also, IIX inability to get thru IIX 500 is becoming major resistance and brick wall and another feather in cap of Bear argument. Bulls should not become complacent now as VIX close of VIX 21.82 foretells. Also, TRIN close reading of TRIN .72 has smell of Bull aura of feeling quite smug. Have a great weekend. Best Regards, J.T.