As circled at A, the FBMACE were closing flat, losing only 0.82 of a point to close at 4297.92 points. However, it is still above the 20-day Bollinger Upper Band, which suggests that the over-bought condition is still intact. Resistance for the FBMACE is at 4350 while the 14, 21, 31 EMA is serving as the dynamic support.

As circled at B, after touching 100% for a few days, the Stochastic started to fall on Thursday, but still above 90%. This suggests that the short term movement of the FBMACE is still over-heated, thus there is still a good chance of some sort of technical correction or pullback. But as long as the Stochastic is still above 70%, the short term movement of the FBMACE is still positive.

As circled at C, the MACD histogram is still rising, but at a slower pace. If the MACD histogram should form a Rounding Top, it would suggest that the FBMACE is losing strength, or a signal suggesting some technical correction.

In conclusion, after gap up for a few days, the FBMACE short term is at over-bought condition, and a technical correction is due to take place. However, if the FBMACE should retreat and later form higher-lows, it would be an early signal suggesting a possible uptrend formation.s