As indicated by A, the 2nd board index fell below the 14, 21, 31 EMA dynamic support, ended the day 1.93 points lower to 100.06 points. (Study A) The 2nd board index was temporary supported by the 100.02 Fibonacci Retracement line, and if the 2nd board index should rebound from this support level, a consolidation may temporary stop the decline. (Study B)

However, since the KLCI is now situated below the 14, 21, 31 EMA, and provided that the 2nd board is still staying below the 14, 21, 31 EMA, the outlook for the 2nd board index would be bearish biased.

Volume for the 2nd board market remained below the 40-day VMA level, suggesting that the 2nd board market is relatively lightly participated. Therefore, as long as the volume is still staying below the 40-day VMA, the 2nd board index is not likely to regain strength. (Study C)

On Tuesday, the Stochastic %K remained below the 30% level, entering the short term bearish region. If the Stochastic %D should fall below the 30% level, it shall confirm the %K signal, and the market movement for the short term would be bearish biased. (Study D)

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