As is typically led by the MoneyFlow Page (see The S&P 500), were RTH to commence at this instant the S&P would open +74 points (+1.4%) as — despite the selling these past three sessions — the monetary outflow has not been as severe as the change in the Index itself; indeed, the S&P is now eight days “textbook oversold” despite it still being vastly overvalued by weak earnings, the “live” futs-adj’d P/E now 36.7x At present for today, we’ve the Bond, Swiss Franc and Metals Triumvirate all below their Neutral Zones, whilst above same is the Spoo (and hence by “fair value” the notion of that “up” opening). At Market Values given components flailing about, here are the real-time deviations from their respective smooth valuation lines: the Bond shows as nearly +6 points “high”, the Euro +0.014 points “high”, Gold +68 points “high”, Oil nearly -8 points “low”, and the Spoo -301 points “low”. The Econ Baro looks to June’s Trade Deficit.