20081128

The WIG Index has lost some of its momentum:



There is a potential symmetrical triangle formation, with potential swing ca.6100 points (see update to yesterday's post). We will observe it daily, but note, the triangle formation is valid only after breakout (preferable with volume confirmation). Intraday chart shows it in more clearly:

There is sell signal in short-term as the intraday low of 26995 has been broken. Additionally, the ascending broadening wedge formation can be also noted on intraday chart, which suggest short-term reversal. However, this formation is not a reliable one.

Steven J.Williams has presented an interesting DJIA analysis (here). It does not look very optimistic:



In this post we have written about WSE manipulation from 12th Nov. Here (via Google Language Tools) are some news about WSE reaction.

Sources:
[http://www.geocities.com/WallStreet/Exchange/9807/Charts/SP500/Outlook.htm]
[http://biznes.gazetaprawna.pl/artykuly/97030,gpw_nie_mozna_stwierdzic_ze_12_listopada_doszlo_do_manipulacji.html (via Google Language Tools)]