There is not much to say. The WIG Index is in primary downtrend. The positive divergences and rising volume suggest the short-term rally (subjective opinion); however it's not the reason to have any long positions now.
The cost of protecting investors from a potential default on Poland’s bonds (CDS instruments) has risen to ca.300 points today (here or here). This outlook is quite pessimistic and it's really hard to believe there is significant risk of Poland's bankruptcy, especially with positive (but reduced) GDP forecasts (here) and weak currency.
Sources:
[http://euro.bankier.pl/news/article.html?article_id=1905534 (via Google Language Tools)]
[http://www.investopedia.com/terms/c/creditdefaultswap.asp]
[http://www.bloomberg.com/apps/news?pid=20601009&sid=aKhpyKIDXm9w]
[http://www.gowarsaw.eu/en/news/ebrd-cuts-polands-gdp-growth-forecast-for-this-year-to-1-5]
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