Market jettisoned bulls, offloading short signals accompanied by a volatility spike on lower timeframes.

Analysis of CoFo Scout Readings

The anticipated volatility eruption buildup only partially played out. The range breakdown triggered a deflation in bear signals.

Prices remain within distribution. Bulls attempting re-entry - longs starting to gain local timeframe traction. Swing horizons still lean tentatively short. Higher up, shorts persist but waning.

Fragmentation across Scout with lack of timeframe synchronicity. Intraday, bulls jockeying for control but unable to infiltrate higher durations yet.

Sellers retaining grip for now. Expect resurgent buying to materialize after signals accrue on medium-terms. For now, rangebound drift with soft bearish skew remains likelier.