The WIG Index has broken the trendline:
More details are visible on intraday chart:
There is a need to review the conception of symmetrical triangle as can be noted on above chart. The volume is not confirming today's rally, but market is giving us clues (broken trend line, positive divergences, buy signal in short- and medium-term). The weekly peak of 28000 has been tested, but not significantly broken and therefore we still don't have any signal today. Breaking the 29600 will serve as a confirmation.
Generally speaking, there is still no technical reason to buy long-term positions; nevertheless, it could change very soon. Trend reversal should be also confirmed in US market, thus Brian Shannon's video is good source of information.
COMEX seems to have some problems with gold delivery (here).
More on shrinking hedge fund industry (here).
And just for pure fun - A musical tribute to the Financial Crisis of 2008.
Sources:
[http://ft.onet.pl/0,18161,hedge_funds_are_going_down_with_dignity,artykul_ft.html]
[http://www.financialsense.com/editorials/fekete/2008/1205.html]
20090415
15 years ago
No comments:
Post a Comment