The XJO initially accelerated lower, and eventually recovered a...

The XJO initially accelerated lower, and eventually recovered a little of the lost ground to close lower.
Spread or range increased further, but volume remained below average, and the close was almost at midbar.
I imagine any speculative positions that were opened off the lows on Thursday were quickly dumped early on Friday, which may account for the increased spread, particularly early in the session.  Price then drew out some support at the longer term level marked (green lines), and also adjacent to the little period of absorption (red), which led to the close well off the days low.  However, once again this support looks to be more speculative than really serious.
In response to the speculative support, should price attempt to bounce here, expect resistance at the breakdown line above (purple).  But keep in mind that as price continues to push lower, if the Index closes clearly below that absorption zone, a retest or washout of the recent lows becomes increasingly likely.

cheers