2nd board index continued its technical correction on Thursday, ended the day 0.26 of a point lower to 95.53 points. As pointed by A, the 2nd board index was precisely supported by the 14 days VMA dynamic support and rebounded. Therefore, the 14, 21, 31 EMA remained as the dynamic support to the 2nd board index. As long as the 2nd board index could rebound from the rising dynamic support, the uptrend for the 2nd board index is likely to continue. (Study A) Of course, this would have to be confirmed with volume continue staying above the 40 days VMA level.

As pointed by B, volume for the 2nd board market on Thursday remained above the 40 days VMA level suggested that the 2nd board market was still actively participated. (Study B)

The rounding top signal of the MACD histogram remained intact on Thursday, suggested that the 2nd board index is still at a correction stage. Therefore, the short-term movement for the 2nd board index is likely to stay weak until the MACD histogram formed a rounding bottom. (Study C)

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