Szukana fraza: [Abstract = "The paper presents a general state space wavelet network model and the underlying principles. The model is applied to produce one session ahead and five sessions ahead adaptive predictors of the WIG20 index prices. The predictors are validated based on real data records to produce promising results. The state space wavelet network model may also be used as a forecasting tool for a wide range of economic and non\-economic indicators, such as goods and row materials prices, electricity\/fuel consumption or currency exchange rates."]