20080716

The WIG index could not cover yesterday's opening gap, additionally the MACD generated sell signal.

The level ca. 37250 could act as a weak support, also the long term trend line (red dotted) could provide some resistance, maybe even enough to slowdown the market. The WIG index is probably heading  to 2006 low (34768), however it's better not to enter any trades now.


The WIG20 has broken very important level of 2449 (2006 low). I expected this level to generate more resistance, however it seems that downtrend is still very strong.

As for tomorrow - both Dow Jones indexes, S&P500, NASDAQ are rallying now - therefore I think we can expect high open tomorrow.