The 2nd board index ended mostly lower on Monday, and as pointed by A, the 14, 21, 31 EMA is still falling while continue serving as the dynamic resistance to the 2nd board index. Therefore, provided that the 2nd board index remained below the falling dynamic resistance, outlook for the 2nd board index is likely to stay negative bias.

Mean while, as pointed by A1, the 87.69 points of the Fibonacci Retracement is now the temporary support for the 2nd board index. (Study A1)

Market volume for the 2nd board was lower on Monday, while failing to hit above the 40 days VMA (Volume Moving Average) level. With lower volume, the 2nd board index is unlikely to regain its strength. (Study B)

As circled by C, Stochastic remained below 30% level, which is the short-term bearish region. Therefore, the market movement for the short-term is likely to stay bearish bias, until the Stochastic broke above 30% level successfully. (Study C)

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