Both the Euro and Gold are presently below today’s Neutral Zones; the balance of the BEGOS Markets are within same, and session volatility is moderate. Yesterday’s S&P 500 net -4.4% decline was its worst since 04 April 2025 (-6.0%); the “live” (futs-adj’d) P/E of the S&P is 60.4x (or ex-CRWD 40.7x). Gold looks to close the week back above 4000 (currently 4057; our “low if a down day” is 4024); more of course on the yellow metal in tomorrow’s 886th consecutive Saturday edition of The Gold Update. Today’s incoming Econ Baro metrics are October’s Payrolls data, along with November’s UofM Sentiment Survey, and late in the session September’s Consumer Credit. And today concludes week five of seven for Q3 Earnings Season wherein for the 410 S&P 500 constituents having thus far reported, 79% have bettered their bottom lines over a year ago, which (excluding the recovery out of COVID) is on track to be the best performance since Q3 of 2018; still, the nearly yieldless S&P P/E as noted remains perilously high.