04 April 2024 – 08:33 Central Euro Time

Silver — for which the net gain across the past two trading days was +8.3% — is at present below today’s Neutral Zone, as is the Bond; above same is Copper, and volatility for the BEGOS Markets is mostly light. The Spoo’s “Baby Blues” (see Market Trends) confirmed settling beneath their key +80% axis, thus indicative of lower price levels near-term, although two of the past six like downside signals from a year ago-to-date have produced minimal material downside given the S&P 500 having been in “straight-up” mode. Indeed through yesterday, the S&P recorded its 52nd consecutive trading session as “textbook overbought” which ranks fifth for such streaks in better than four decades. With Q1 Earnings Season commencing next week, the “live” (futs-adj’d) P/E is now 46.7x. Today’s incoming Econ Baro metrics include February’s Trade Deficit.