The Eurocurrencies are the weak link thus far with both the Euro and Swiss Franc below today’s Neutral Zones; the balance of the BEGOS Markets are within same, and volatility is light with September’s Payrolls data due (12:30 GMT). Oil having come off, all eight BEGOS components are now in negative 21-day linear regression downtrends. Specific to the S&P 500, there remains no sight of “fear” given the positive differentials of Index change vs. flow per our MoneyFlow page; too, by “textbook technicals”, the S&P stands as “oversold” through 11 trading days; ‘course, the big fundamental bug-a-boo remains the “live” P/E now 37.6 (futs adj’d real-time). In addition to Labor’s jobs data, the Econ Baro also awaits August’s Consumer Credit late in the sessdion.