As indicated by A, the 2nd board index rebounded strongly on Friday, closing the day 2.37 points higher to 101.03 points. As mentioned in yesterday's analysis, if the 2nd board index could return to above the 14, 21, 31 EMA level, the uptrend might resume. (Study A). Nevertheless, 103.36 Fibonacci Retracement is still the next resistance level for the 2nd board index.

Although the 2nd board index rebounded strongly on Friday, volume for the 2nd board market was, on the other hand, 15.2% lower. As indicated by B, volume for the 2nd board market was below the 40-day VMA level, which is suggesting that the market participation on Friday was relatively low. If the 2nd board was the resume its uptrend, the current volume would be insufficient. (Study B)

In respond to the 2nd board index rebound, the Stochastic %K broke above the 30% level, and steered away from the short-term bearish region. If the Stochastic stays within 50% level, the market movement for the short-term will be at neutral. (Study C)

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