On Thursday, 4rd of May, 2006, the Composite Index retested the 954 resistance, and even broke above the 954 resistance marginally. At the closing, the Composite Index closed at the intra-day high at 954.16 points, ended the day 3.93 points higher. As pointed by A, 954 remained as the major resistance for the Composite Index, and the break-out on Thursday is yet to to confirmed. (Study A)

Nevertheless, 14, 21, 31 EMA continue rising, suggested that the Composite Index indeed was trending up, and at the same time serving as the dynamic support for the Composite Index. (Study A1)

As pointed by B, total market volume stood at around 1.19 billion shares, a 7.9% decreased from the previous' market volume. The decreased of volume has not given any support to the break out of the 954 resistance. Thus, the break-out is yet to be confirmed. (Study B) In general, any breakout of important resistance should be accompanied by growth of volume.

As circled by C, WinChart RSI rebounded slightly, but remained in the neutral region. At the moment, WinChart RSI is situated above the 50% level, and therefore, it suggests that the market sentiment is at neutral with some bullish bias. (Study C)

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