Basis the Spoo (6527) adjusted for fair value, the S&P 500 would open at an all-time high come 13:30 GMT, given yesterday’s poor ADP data “ensuring” a Fed rate cute (17 Sep). At present, the Spoo is above its Neutral Zone for today, as the other BEGOS Markets, save for the Swiss Franc and Oil being within same; session volatility is light-to-moderate. Going ’round the Market Values horn in real-time for the five primary BEGOS components: the Bond is +0^28 “high” above its smooth valuation line, the Euro essentially in sync with its valuation line, Gold +225 points “high”, Oil -2.30 points “low” and the Spoo +137 points “high”. Is Gold again getting ahead of itself? More on that in tomorrow’s 825th consecutive Saturday edition of The Gold Update. In the interim, the Econ Baro awaits August’s payrolls data, wherein we’ll see if bad continues to be good for the S&P.