denmo, re. upside projections, neither Naz nor NDX ever broke their 10-week FLDs nor FMAs to the downside, indicating that the overall trend is very bullish; furthermore, since there was never a downside break that means that there won't be an upside break either as the prices just statyed above those lines.
However, both NDX and Naz broke their 5-week FLDs (and FMAs) to the downside, and now have re-broken them back to the upside, generating (perliminary) targets of NDX 1505 +/- 8 pts and Naz 2013 +/- 11, to be achieved by end of next week - begining of the week thereafter. However, these are only preliminary targets, and assuming that we right on the fact that the larger cycles are bullish, then those targets should be OVERSHOT to the upside.
And, IMHO, ideally we ought to keep rallying at least into Thanskgiving for a RT 5-week cycle high, and possibly/likely into mid-December for a RT 10-week cycle high - and IMHO we go back up to test and possibly exceed the 52-w highs.
Hope this helps.
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