The 2nd board index remained resisted by the 103.36 Fibonacci Retracement again on Tuesday and was mostly traded lower. However, as pointed by A, the 2nd board index managed to be supported by the rising 14, 21, 31 EMA dynamic support, and rebounded before closing 0.39 of a point lower to 102.22 points.

Currently, the 14, 21, 31 EMA dynamic support remained intact, and provided that the 2nd board index is still supported by the rising dynamic support, the outlook remained positive bias.

Volume for the 2nd board market increased 25.3% while staying above the 40 days VMA level. If the 2nd board index carried on its correction with high volume, this could suggest an increased of selling pressure. However, if the 2nd board index could break above the 103.36 resistance successfully, volume staying above the 40 days VMA would help sustain the bullish sentiment. (Study B)

As circled by C, Stochastic %K line fell below 70% level on Tuesday, triggered a first signal suggested an end to the short-term bullish market. However, this signal is yet to confirm. If %D line fell below 70% level, it shall confirm the %K signal, and the market movement for the short-term would turn from bullish to neutral. If Stochastic could resume its position above 70% level, the market movement for the short-term is still bullish bias. (Study C)

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