CoFo Lab Market Watch: New Year's Rally
Analysis and Forecasts
2024-01-02 13:10:00
Assets climbing despite overheating — traders accept new prices & still buying.
Analysis of CoFo Scout Readings
Bulls seized initiative, though driven more by greed than conviction. And greed often accompanied by panic.
Long dominance on weekly timeframe. Lingering shorts on daily, but declining.
Medium term now strengthening longs, flipping some shorts locally.
Sheer short signal volume unlikely to reverse uptrend alone. Wiser to await solidified local long dominance for bullish entry.
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