On Tuesday, the 2nd board index retested the 14, 21, 31 EMA dynamic resistance while precisely being resisted. The 2nd board index must break above the dynamic resistance successfully in order to break away from the negative trend. However, to break away above the falling dynamic resistance, this must be confirmed with a significant increase of market participation. Nevertheless, supports are still found at 91.72 and 87.69 Fibonacci Retracement.

Volume for the 2nd board market increase slightly on Tuesday, but still below 40 days VMA level. Therefore, this suggested that the overall market participation is still relatively weak. As a result, the 2nd board index is likely to stay sideways to negative bias. (Study B)

As circled by C, Stochastic tested the 70% level again on Tuesday. If the Stochastic could break above 70% level successfully, it would be a short-term bullish signal. (Study C)

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