Will Buckley put the visitors back in front with five minutes remaining but Casper Ankergren allowed Henri Lansbury's injury-time shot to squirm beneath his body to ensure the Championship play-off rivals shared the points.
"We got a break at the end with the second goal but we needed it in the first half when we were so much on top," Davies said. "Had it been a boxing match it would have been stopped.
"If we had gone in one or two goals up it wouldn't have flattered us but even though we were frustrated we kept driving on to the end.
"This team has many qualities but there is a great spirit in there and they were determined to get a result out of it. Even when we had got it to 2-2 we were still trying to win the game.
"We've not got the win we were looking for but we have put ourselves in a good position considering I was being asked to save the club from relegation when we came in.
"There have been a lot of strange results this weekend and they will continue in the coming weeks because that's what happens at this stage of a season."