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On Friday, the Composite Index ended marginally higher, gaining 0.98 of a point to 926.09 points. As indicated by A, the Composite Index remained supported by the 14 days Exponential Moving Average line while the multiple exponential moving averages began to rise. Nevertheless, other support for the Composite Index is at the T3 line and the 920 Fibonacci Retracement level, while the resistance is still at the 931 Fibonacci Retracement level. (Study A)

Total market volume on Friday stood at 782 million shares, a 1.6% higher than previous market volume. Although the volume on Friday failed to break above the 40 days VMA level, it was closed. Therefore, the market participation was still considered as active, and this would be a plus to the performance of the Composite Index. (Study B)

As pointed out by C, the WinChart RSI touched the 70% level on Friday. It suggested that the Composite Index is relatively gaining strength. If the WinChart RSI could stay above the 70% level, market sentiment for the short-term would likely to be bullish. (Study C)

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