The XJO closed higher on Thursday, where price closed right back...

The XJO closed higher on Thursday, where price closed right back at the important breakout line.
Spread and volume both reduced, so there wasn't much 'oomph' in the market today.
Price kinda floated higher on a lack of selling pressure as much as anything, so the buyers didn't really step up again.
The Index has found a bit of an equilibrium recently, and while there is no sign of any serious supply (yet), demand has become a bit subdued.  The market may need some form of catalyst to motivate the buyers again.
This is the kind of period where participants (traders) are willing to continue holding, but will reduce their exposure on any sniff of negative sentiment (or news).



cheers

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