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

To: J.T. who wrote (5174)	11/3/2000 1:49:09 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

Rydex Total Assets Update for Thursday, November 2nd: Regular Series: SPX Long - NOVA 566.8 Million SPX Short- URSA 240.0 Million NDX Long - OTC 2,794 BILLION NDX Short- Arktos 83.6 Million XAU Precious Metals 25.1 Million Biotechnology 756 Million Money Market 1,017 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 99.6 Million SPX Short- TEMPEST 29.9 Million NDX Long - VELOCITY 163.8 Million NDX Short- VENTURE 26.6 Million ******************************************* 1)SPX URSA total assets I believe is at the lowest levels I have seen since keeping track. Now with a market friendly employment report tomorrow, we may finally see utter capitulation on short fund here and we may in fact get that 3 X 1 ratio long over short - or at least close in on it. Still, this rally has further to go imho. I am looking for that 1 day close above SPX 1,440 as I have clearly stated in a previous rydex update post and today we closed at SPX 1,428.32 with intraday high of SPX 1,433.27. Once SPX 1,440 + close is booked, look for a pullback followed by another rally higher to above SPX 1,480 intraday and then DOWN hard. I will need to fill in the details as this unfolds and be totally flexible in letting mr.market lead me in modification of events. 2)NDX OTC total assets needs to climb back above 3 billion in total assets so we have room for upside here with ease. One close above NDX 3,580, and then another pullback. Today NDX closed at NDX 3,305.86 with intraday high of NDX 3,326. 3)Money market levels still above 1 billion - but not by much. Again, looking for 2 closes below 1 billion total assets for the pullback... With the elections coming up next week, the market will do the opposite of what people think. We want gridlock: A Republican President and a Democratic House or vice versa. I think if Bush wins combined with a republican sweep in the majority for Congress the market will sell on Wednesday. The same can be said for Democrats. I persoanlly believe Bush is going to win and the Congress will be dead even or narrow Republican victory... Best Regards, J.T.