Good Morning and Welcome to the XJO Tuesday Thread
The XJO closed lower on Monday, where spread narrowed considerably, and volume was about average overall (but keep in mind that the volume was actually Very High for a Monday). The close was almost at midbar as price 'held on' adjacent to the Early February lows. This suggests there was a really serious attempt at supporting the market on Monday. Which may take a few days (or even longer) to complete. Or it may just be enough to knock price sideways.
And if this attempt to support the market was to fail, causing the support to be dumped, price is poised to break down much more seriously - and not just a minor intra-level breakdown, a really 'proper' more serious breakdown.
Good Trading and Investing
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