Weekend Charting and Chat - 8th January 2016, page-2

The XJO only closed modestly lower on Friday.
Spread narrowed, volume was again above average (and very similar to Thursdays volume), and the close was well off the day's lows.
Just think about that, volume (or effort) was the same as the day prior, but on Friday the spread narrowed, and the close was just above mid bar (and well off the day's low).  So after price has had widening spreads on each of the past three days, showing that price was accelerating lower in the face of overwhelming selling pressure.  There is little doubt a decent attempt to support the market arrived near the trading range lows, on Friday.