20080904

The WIG Index stayed around yesterday's level without much volatility:



The WIG20 Index still could not cross the long-term downline:



Not much can be said - we have to wait until market takes out the previous high or fall below last low. Alternatively we can try to find some kind of formation, but I don't see anything clear right now.

The sWIG80 i mWIG40 were not discussed here for a long time. However, today's charts are interesting. The mWIG40 has slightly taken out the previous low (red line):



Similar situation is on sWIG80 chart:



Both indexes looks interesting, nevertheless we shall expect some kind of support confirmation before investing anything in small-cap companies. As for me - I'm waiting for clarification on the WIG Index, before I consider any position. Also, remember that the low liquidity on small-cap companies is an important issue.

The US market panicked and closed pretty badly. Make sure you watch today's AlphaTrend analysis (here) as this shows the most probable direction for tomorrow.
Another bearish video (from Fibonacci Queen) can be found here.

Sources:
[http://pl.youtube.com/watch?v=6K7glPcIxtw]
[http://www.projectstreamer.com/users/cb1618/vidsept5/vidsept5.html]