As shown on the chart above, the 2nd board index had an intra day low at 96.64 points; however, it closed 0.29 of a points higher to 97.73 points. As pointed by A, the 14, 21, 31 EMA is still serving as the dynamic support, while the next resistance for the 2nd board index is still at 99.40 level.

Volume for the 2nd board market increased slightly while staying marginally above the 40 days VMA level. If the 2nd board could remained supported by the dynamic support, with the volume staying above the 40 days VMA level, chances for the 2nd board index to test the 99.40 resistance level would be higher. (Study B)

MACD histogram continued rising suggested that the bullish signal is still gaining strength. If the MACD histogram started falling and formed a rounding top, it would be a technical correction signal. (Study C)

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