The XJO closed marginally higher on Friday Spread narrowed...

The XJO closed marginally higher on Friday
Spread narrowed substantially, volume reduced to the lowest for the week, and the close was about midbar.
In Wyckoff Lexicon Friday's bar was an almost textbook perfect "Hinge" (from which a larger move may occur).
It refers to a point where price has reached a dead centre, and the forces of supply and demand  have found a temporary equilibrium.
It alone does not reveal direction, but calls for an alert to the near future for something more decisive.
So we are left with the same story as previously, firm resistance remains above, which will most likely require some decent volume to breakthrough.  The Index does still have the potentially strong bar from last Wednesday right behind it, however overall repeated lower highs leave the Index in a vulnerable position from which to accelerate higher.....so perhaps that hinge is right.....and price has reached a fine balance for now.