Weekend Charting and Chat - 4the Sept 2015, page-15

The XJO did not follow through or accelerate towards the downside on Friday.
Where, after a couple of false starts.....price eventually closed slightly higher on the day.
However, the Index was sharply lower for the week, but importantly remained within the range of the previous week (inside bar).

Spread (or range) narrowed considerably on Friday, and was the narrowest spread for the week.
Volume (value traded) was a little below average, but was also the second highest for the week, albeit only slightly.
Price has also closed the week just above the important longer term line @5039.6, although it remains vulnerable.

The chart has some mixed messages right now, it is attempting to hold on at this juncture, however there is no doubt it continues to show weakness overall, and has broken down a number of times since May.
Perhaps, as I mentioned last week, it may be that generally sideways (within the range of last weeks widespread bar) may be the highest probability for a while.   Or perhaps that should be sideways to down........we'll see.......




.