As pointed by A, the Bollinger Band width remained contracted on Tuesday, suggested that the 2nd board index is still at a consolidation stage. If the Bollinger Band width continued to contract, the consolidation is expected to continue. Nevertheless, the 2nd board index retested the 100 points gap level, while the 94.63 Fibonacci Retracement is the support for the 2nd board index.

While the 2nd board index retest its resistance at the 100 points Gap level, volume did not increased, and failed to support the 2nd board index. Nevertheless, volume for the 2nd board market remained above 40 days VMA, and therefore, the 2nd board market is still actively participated. (Study)

MACD histogram for the 2nd board index on ticked up slightly, and therefore, did not formed the rounding top successfully. However, readers are advised to monitor the histogram for if it formed a rounding top, it would be a technical correction for the 2nd board index. (Study C)

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