20081029

The WIG Index did another impressive rally today:



On intraday chart we can draw potential target of reversed head-and-shoulders formation:



This week is impressive. Intraday higher lows & higher highs pattern gives us short term buy signal. Negation of a medium-term sell signal is the area above last daily high at 29650.

The Federal Reserve decided to cut interest rates by a half percentage point to 1% (here).

Sources:
[http://www.marketwatch.com/news/story/Bernanke-makes-official-We-Japan/story.aspx?guid={F8AC589F-2F94-478D-9C54-0E4F6BD52F95}]