05 Aug ’22, 09:21 Central Euro Time:

For a third straight day by this hour, Copper is the only BEGOS Market trading outside (in this case above) its neutral zone. Volatility is light (save for Copper’s 66% EDTR tracing [see Market Ranges] thus far). The Spoo (in real-time) remains excessively high by its smooth valuation line (see Market Values), price at present 352 points “high”; the “live” P/E of the S&P 500 is 37.2x, the “P” rising faster than the “E” as Q2 Earnings Season continues to unfold: with 406 of the S&P’s constituents having reported, only 62% have bettered their COVID-effected earnings of Q2 a year ago, the declining Economic Barometer having been a leading indicator of this relatively weak Earnings Season. Indeed, the Econ Baro wraps up its week with slower Payrolls growth for July and an expected decline in June’s Consumer Credit.