As indicated by A, the 2nd board index had an intra-day high touching 99.01 points. However, it retreated and closed at 98.29 points, ended the day 0.24 of a point higher. As shown on by the chart above, the 2nd board index is still standing above the 97.69 immediate support while the 14, 21, 31 EMA is still serving as the rising dynamic support. Provided that the 2nd board index could maintain its position above the rising dynamic support, the 2nd board index uptrend is likely to sustain.

As pointed by B, volume for the 2nd board market remained on the rise, while staying above the 40 days VMA level. This suggested that the 2nd board market was well-participated and provided that the volume could maintain above the 40 days VMA level, the bullish sentiment is likely to continue. (Study B)

MACD histogram continued ticking higher, and therefore the rounding bottom signal is still intact. Therefore, the short-term movement for the 2nd board market is still bullish bias, until the the histogram started to decline and formed a rounding top. (Study C)

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