As indicated by A, the FBM2nd Board Index breaks above the 4000 level on the first trading of the year 2009, closing 24.82 points higher to 4032.13 points. Meanwhile, the Bollinger Bands Width also expanded 6%. Although the expansion is not significant, it is still a positive sign for the FBM2nd Board Index. As long as the Bollinger Bands Width should continue to expand, the bullish biased movement of the FBM2nd Board Index is likely to continue. Support for the FBM2nd Board Index is at the Bollinger Middle Band dynamic support, while the next resistance is at 4480 level.

As circled at B, the Stochastic is still rising while staying above 70% level; therefore, the Stochastic is still showing a short term bullish signal, and provided that the Stochastic could maintain above 70% level, there are more upside room for the FBM2nd Board Index. If the Stochastic should break below 70% level, it would be a signal suggesting a beginning of a technical correction.

As circled at C, the MACD histogram is still rising slowly, suggesting that the FBM2nd Board Index is still improving. If the Bollinger Bands Width should continue to expand, the MACD histogram would be more reliable.

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