On Monday. the 2nd board index was traded at a narrow range, until the last minute, it rose and closed at its daily high of 95.60 points, ended the day 0.70 of a point higher. As pointed by A, the 2nd board index is still testing the 14, 21, 31 EMA dynamic resistance, and if the 2nd board index could not break above the EMA resistance, the outlook shall remained bearish bias. Nevertheless, the 87.69 Fibonacci Retracement is still the support level for the 2nd board index.

Volume for the 2nd board market remained lower on Monday, and failing to break above the 40 days VMA level. This suggested that the 2nd board market is still relatively under participated, thus, the 2nd board index is not likely to regain its strength. (Study B)

As circled by C, Stochastic has broken above the 30% level, stirred away from the short-term bearish region. At the moment, Stochastic is situated in the short-term neutral region, while staying below 50% level, therefore, the short-term movement for the 2nd board index is expected to stay neutral with slight negative bias. (Study C)

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