Silver is the only BEGOS Market at present outside (below) today’s Neutral Zone; session volatility is light with October’s Payrolls data in the balance. Yesterday’s +1.9% S&P 500 rise was sufficient to fully unwind the “textbook oversold” stance that had been in place since 23 October; too on Thursday, the S&P’s P/E rose from 34.7x to now 38.8x: with still some 100 Q3 earnings reports due for the S&P, fully one-third thus far have not improved their year-over-year bottom lines; (as penned in last Saturday’s edition of The Gold Update, for the S&P we’re seeing that “…bounce before the next trounce…”); and by Market Values, this bounce has lifted the Spoo up to its smooth valuation line, price back to where ’twas two weeks ago. In addition to the Econ Baro’s incoming jobs data, we’ve also October’s ISM(Svc) Index.