20080721

The market continued to rally, breaking trend lines on both indexes.
WIG:


and also WIG20:


The size of move is quite big, nevertheless the volumes are small.

There are some figures suggesting medium-term trend reversal (i.a. weekly candles, divergences). However I'm still very bearish - until situation proves differently. Both indexes have Fibonacci levels shown from the last high - retracemnets should not reach the 61.8%.

USA closed little on red, Oil stayed above 130. Therefore I think the rally will pause or slow down tomorrow.