20080926

As per chart, the WIG Index has confirmed its short term low (ca.37300) but is still below the last short-term high (ca.38800):



Similar situation on WIG20 Index: confirmation of a new short-term low (ca.2357), bur still below previous short-term high (ca.2473):



Therefore, nothing changed in the big picture and we are still in primary downtrend. Nobody knows where is the bottom. Under current circumstances in US economy and politics, playing on market is quite hazardous.

As for the question "how much more can we go down?" - there is no answer, but don't believe in anything like "we are low and it can't go lower". Take a look at DJIA from 1929 and the answer is "we can always go lower":