On Monday, the 2nd board index ended mixed, closing 0.28 of a point higher to 97.44 points. As pointed by A, since the 2nd board index remained above the 14, 21, 31EMA, therefore, the 14, 21, 31 EMA shall continue serving as the dynamic support to the 2nd board index. Mean while, the 99.40 Gap level remained as the next resistance for the 2nd board index.

As pointed by B, Volume for the 2nd board index on Monday declined, and was staying at the border line of the 40 days VMA level. Therefore, this is not a convincing signal, suggested that the 2nd board market participation is still doubtful. Nevertheless, in order to have a bullish movement, the market volume must stay above the 40 days VMA level. (Study B)

As circled by C, the MACD histogram remained rising. If the MACD histogram fell and formed a rounding top signal, it would be a technical correction signal for the 2nd board index. (Study C)

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