The XJO closed higher on Friday, where spread increased to above...

The XJO closed higher on Friday, where spread increased to above average, but volume reduced to below average.
Price accelerated higher soon after the open, and the wider spread discounts any concerns over a lack of demand.  Instead the lower volume suggests the gains were made on a lack of selling pressure....in fact this whole pull back has not seen any serious or dangerous volume come in.  At this stage there isn't a completed bullish reversal, or shakeout yet (that would take a close back above the high of Wednesday's widespread downbar), so it could still fail...no doubt, but the Index does look quite promising now it has pushed strongly back above that lower line.