2nd board index continued its consolidation on Monday, ended the day 0.26 points to 95.95 points. As pointed by A, the 2nd board index remained supported by the 14, 21, 31 EMA dynamic support. Therefore, the 2nd board index is still situated in a congestion zone. Nevertheless, the next resistance for the 2nd board index is still at 97.69 points.

On Monday, volume for the 2nd board market declined sharply, and the volume also failed to break above 40 days VMA level. This suggested that the 2nd board market players are mostly sidelined, thus the consolidation of the 2nd board continues. However, if the low market volume prolonged, chances for the 2nd board to resume its uptrend would be lower. (Study B)

As circled by C, Stochastic continued staying below 50% level, and therefore, it shows some bearish bias to the 2nd board short-term movement. Nevertheless, if the Stochastic %K fell below 30% level, it shall be the first signal suggesting a short-term bearish movement to the 2nd board index. (Study C)

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