On Thursday, the 2nd board index closed 2.64 points higher to 95.06 points. As pointed by A, the 2nd board is set to test the 14, 21, 31 EMA dynamic resistance. If the 2nd board index could break above the dynamic resistance, the 2nd board index will not be forming a downtrend yet. Nevertheless, the 87.69 Fibonacci Retracement is still the support level for the 2nd board index.

Volume for the 2nd board market was lower again, and failing to reach the 40 days VMA level. This suggested that the market participation of the 2nd board is insufficient. Therefore, if the 2nd board index was to break the dynamic resistance with such low volume, the break out would not be a valid one. (Study B)

Stochastic %K continued rising on Thursday, breaking above 30% level. If the %D line could break above 30% level, it shall confirm the %K signal and the short-term movement for the 2nd board index would turn from bearish to neutral. (Study C)

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