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

To: J.T. who wrote (8431)	8/28/2001 12:35:16 AM
From: J.T.	Read Replies (2) \| Respond to of 19219

Rydex Total Assets Update for Monday, August 27th, 2001: Regular Series: SPX Long - NOVA 280.4 MillionBULLISH SPX Short- URSA 229.2 Million NDX Long - OTC 1.024 MillionBULLISH NDX Short- Arktos 74.0 Million XAU Precious Metals 69.0 MillionBEARISH Banking 69.1 Million Biotech 363.8 Million Money Market 1.254 BILLION *************************************** Dynamic Series (200% correlation to Index) SPX Long - TITAN 96.8 Million SPX Short- TEMPEST 89.4 MillionBULLISH NDX Long - VELOCITY 160.5 Million NDX Short- VENTURE 89.0 MillionBULLISH ******************************************* Market digests Friday's monster advance with NDX virtually unchanged and SPX giving back 5. Light volume today I wouldn't read too much into the broad market action. XAU finally commences the pullback we are looking for this week into the full moon on September 2nd. Since this falls on a Sunday, look for bottoming action around Friday, August 31st +/- 1 trading day (Thurs Aug 30th or Tues Sept 4th). I would not be surprised to see a bottom earlier rather than later given the strength the XAU has characterized on pullbacks. I would like to see a one day false break close below XAU 56.50 - 56.60. I will be looking for re-entry into a weak close that same day if we have penetrated below this important support level. XAU closed down .87 cents to XAU 57.39 down 1.5%. There is an outside chance that gap from Aug 8/9 could get filled at XAU 53.33 - 53.65 this week, but I will not hold my breath waiting for it to happen. Regular Series: 100% Long NDX OTC Dynamic Series: 100% Long SPX TITAN Best Regards, J.T.