Sellers lacked enough heft to fully capitalize on the downside correction attempt. Bulls applying significant support undergirding market.

Analysis of CoFo Scout Readings

Bears still shy of momentum required to stall ascent. Meanwhile, brief pullback deflated many short signals.

Resolute global bearish skew intact. Medium-term and intraday timeframes fragmented between potent longs and shorts.

Overall, indicators remain scattered but shorts exhibiting waning trend. A continuation strengthening as longs intensify across lower/medium TFs could propel upswing resumption.

Conversely, if short signals re-amplify, it may embolden bears to renew downside probes. For now though, bearish scenario ceding conviction and probability.