2nd board index rebounded successfully on Thursday, gaining 0.67 of a points to 96.17 points. As pointed by A, the 2nd board index is still supported by the 14, 21, 31 EMA support. However, if the 2nd board index was to resume its uptrend, it must break above the immediate resistance at 97.69 points.

In line with the rebound of the 2nd board index, volume for the 2nd board market also increased and broke above the 40 days VMA level. This suggested that the 2nd board market is still resilient. However, in order to sustain the uptrend of the 2nd board index, volume must remained above the 40 days VMA level. (Study B)

Stochastic %K rebounded off the short-term bearish region, and as shown by the C circle, Stochastic suggested a neutral short-term signal. Therefore, the short-term market movement for the 2nd board index is at neutral. (Study C)

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