20081202

Today's rally has proved that we shall never stick to any forecasts:



The intraday chart shows us today's rally in more details:



Today's rally was impressive (note how the gap from 24th Nov acted as support), but I'm in doubt as it was not accompanied by big volume. Generally speaking, situation looks better and we can note buyers, but there is still no reason to make long positions. The WIG Index still stays in symmetrical triangle and below last weekly high (29600). Therefore, we still have sell signal in long-term (weekly) and buy signal in medium- (daily) and short-term (intraday).

Bankier.pl portal has published an interesting article about origins of speculative bubbles (here).

Also, US economy is officially in recession (here).

Sources:
[http://www.bankier.pl/wiadomosc/Tajemnica-baniek-spekulacyjnych-1872060.html (via Google Language Tools)]
[http://www.marketwatch.com/news/story/No-surprise-US-officially-recession/story.aspx?guid={FB24B86D-7611-4783-955C-7482CA23FD99}]