Vanilla XJO Thread, page-9

What I find useful when looking at charts is to have a weekly & a daily chart side by side.
So I can see where the daily price action is relative to the weekly.
Unlike the SPX, a very strong follow through day today on the daily XJO closing at the low.
We have also undercut the previous low on the daily.
The last two candles look impulsive (ie: no overlaps price expansion).
Last 12 daily candles showing "a change of character" with only 3 green candles.
Weekly also displaying this with the last 2 candles closing at the lows.
For the bulls need to stay at the upper level of the weekly consolidation or corrective ("overlapping previous price") price action between 7900 & 7600.
Sideways price action on top of the range is one way to absorb the selling.