2nd board index ended mixed on Thursday, closing 0.13 of a point higher to 92.53 points. As pointed by A, the 2nd board index found a temporary support at the 14, 21, 31 EMA dynamic support. However, as shown on the chart above, the symmetrical triangle formed by T1 and T2 remained the consolidation range for the 2nd board index, and the direction for the 2nd board index is still unclear until a valid break out from the triangle. (Study T1 and T2).

Volume for the 2nd board market remained below the 40 days VMA level, suggested that the market participation for the 2nd board market is still low. Therefore, the 2nd board index is likely to stay within the consolidation range. If the 2nd board index were to break out above T1, a significant increased of volume is needed. (Study B)

MACD histogram continued ticking lower on Thursday, suggested a continue weakening of the bullish MACD signal, and the short-term movement for the 2nd board index is likely to stay weak until the histogram formed a rounding bottom. (Study C)

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