dennis, re. 20w downside projections, here is the story:
10w FMA/FLD downside projection:
NDX 1522 +/- 13 pts
Naz 2071 +/- 20 pts
SOX - none yet
SPX 1199 +/- 6 pts
OEX 559 +/- 2 pts
DJIA 10,363 +/- 45 pts
Note that SOX is acting surprisingly the most bullish as it has not yet generated a downside projection, while OEX and DJIA are acting most bearishly as they have already met their projections.
20w FMA/FLD downside projections:
NDX - none yet
Naz - none yet
SOX - none yet
SPX a hair above it, and it would be 1164 +/- 10 pts
OEX 553 +/- 3 pts
DJIA 10,211 +/- 65 pts
Again, note that OEX and DJIA are acting most bearish because they are the only ones that have generated the downside projections so far, but SPX is right at it, and another (even slightly) down day will trigger the projection.
Now, all these are PRELIMINARY projections only, and need to watch the LMAs to see IF those preliminary projections are going to be hit, but we are clearly bearish for the time being, i.e. imho for the next few weeks at least.
