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

To: bobby beara who wrote (4106)	8/9/2000 9:04:40 AM
From: J.T.	Respond to of 19219

Rydex Total Assets Update for Tuesday, August 8th: Regular Series: SPX Long - NOVA 608 Million SPX Short- URSA 312 Million NDX Long - OTC 3,123 BILLION NDX Short- Arktos 106 Million XAU - Precious Metals 28.2 Million Money Market 1,047 BILLION ******************************** Dynamic Series (200% correlation to Index) SPX Long - TITAN 42.7 Million SPX Short- TEMPEST 18.2 Million NDX Long - VELOCITY 86.2 Million NDX Short- VENTURE 22.7 Million *************************************** DOW 5 day RSI is above extreme overbought at 85.07 so this index is near exhaustion very short term. Look for a 1 to 2 day pullback minimum. After this pullback we will look at consideration for potential technical configuration of a move to new highs to DOW 11,722 and what would need to happen for this to materialize. SPX 5 day RSI is above overbought at 74.24. NDX is midrange at 5 day RSI 54.41 so at a minimum I think we can move above 70 over the nearterm. With CSCO leading the way we have room to run before we get into overbought territory. IIX at 5 day RSI 62.86 SOX at 5 day RSI 38.25 so look for this area to pick up strength. Individual issues in this area primed for a smart bounce. BKX at extreme overbought 5 day RSI 79.36. Best Regards, J.T.