On Thursday, the 2nd board index rebounded 0.81 of a point to 93.37 points. However, as pointed by A, the 14, 21, 31 EMA remained falling while continued serving as the dynamic resistance to the 2nd board index. Provided that the 2nd board is still trading below the falling dynamic resistance, the outlook shall remained bearish bias. Nevertheless, 91.72 point and 87.69 Fibonacci Retracement is still the support for the 2nd board index.

For for the 2nd board market remained light, and as pointed by B, volume is still below the 40 days VMA level. This suggested that the market participation for the 2nd board is still weak, and therefore, the market strength is still weak. (Study B)

Stochastic %K broke above the 70% marginally; however, this signal is yet to be confirmed, for the %D line is still staying at the neutral region. Therefore, the Stochastic is still showing a short-term neutral signal. (Study C)

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