As indicated by A, the FBM2nd Board Index ended mixed, closing 4.07 points lower to 3968.38 points. The FBM2nd Board Index is still supported by the Bollinger Middle Band, while the Bollinger Bands Width expanded 11%. Therefore, the immediate outlook for the FBM2nd Board Index is still positive.

Despite the positive Bollinger Bands Width signal, the FBM2nd Board Index still has not broken above the 4000 psychology resistance level. Therefore, the FBM2nd Board Index has not broken out from the sideways movement. Other than the Bollinger Middle Band dynamic support, the next support for the FBM2nd Board Index is at 3870 WinChart Automatic Fibonacci Retracement.

As circled at B, the Stochastic retreated slightly as the FBM2nd Board Index ended slightly lower, but remain above the 70% level, which is the short term bullish region. Therefore, as long as the Stochastic could hold up above the 70% level, the short term market movement for the FBM2nd Board Index is still bullish biased.

As circled at C,the MACD histogram continue rising, forming a rounding bottom. The formation of the rounding bottom suggests that the FBM2nd Board Index is improving, and as long as the MACD histogram is still rising, the improvement of the FBM2nd Board Index is likely to continue. If the MACD histogram should form a rounding top, it would be a signal suggesting a beginning of a technical correction, or a consolidation.

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