Likely overcrowded shorts. Prices jumped higher to shake out unfortunate traders. Continued CoFo Scout short unloading.

Analysis of CoFo Scout readings

Local short prevalence. Weakening medium-term shorts and strengthening longs. Persistent global long dominance.

Relevant uptrend remains. Market can complete local correction still.

Summary

CoFo Scout shows strengthening medium-term longs and weakening shorts.

Awaiting local longs for continued growth positions. No deep correction confirmation yet.