The XJO closed lower on Friday. The Index pushed lower today, at...

The XJO closed lower on Friday.
The Index pushed lower today, at least partly (or mostly ??) in sympathy with overseas markets which themselves closed poorly.
Spread increased, but volume reduced, which shows that while selling pressure was not particularly serious, when buyers stepped back there was a lack of demand in the market, and that lack of demand forced price to push quite a bit lower (than it would have normally on that amount of volume), to draw out enough buyers to satisfy the sellers.
Price closed the day a little off the day lows, at a logical level - right on both the oblique potential breakout line, and the horizontal line marking the highs of the most recent (mini) breakdown.  This leaves price at an important juncture for next week.


Weekly charts later tonight.

cheers

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