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On Thursday, the Composite Index ended lower, losing 6.01 points to 926.97 points. As indicated by A, the Composite Index is now supported by the 10 days Bollinger middle band, which is serving as the dynamic support. Outlook for the Composite Index has turned cautious at the moment, and unless the Composite Index could rebound from the Bollinger middle band and return above the 931 level in the short term, or else the break out on Tuesday would be a false break out, thus, the rally would come to an end. (Study A)

Nevertheless, support for the Composite Index is now at Bollinger middle band, as well as T3, while the new resistance is now at 934.5 level.

Total market volume on Thursday stood at 1.16 billion shares, a 4% lower than the previous total market volume. At the moment, volume is still above the 40 days VMA level, suggesting that the market was still very well participated. If the Composite Index could rebound with the sustain of high volume, there is still hope for the rally to continue. Otherwise, a break down below the Bollinger middle band with high volume would suggest more panic selling. (Study B)

As pointed by C, %K of the Stochastic has dropped below the 70% level, suggested that the short-term bullish sentiment might be ended. However, %D is still situated above the 70% level. Therefore, if the %K could return to the 70% level and above, while the %D remains there, market sentiment in the short-term would likely to resume its bullishness, otherwise, if the %D fells below the 70% level, it would confirm the %K signals thus short-term bullish sentiment would come to an end. (Study C)

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