Selling of equities looks to continue: adjusting the Spoo at present to Fair Value, the S&P 500 (were the StateSide market to open at this instant) would trade sub-5000 for the first time since 25 April a year ago. ‘Tis worth noting with the Spoo -4.4%, the -7% “lock limit” would apply at 4740. At present along with the Spoo below their respective Neutral Zones are both Gold and Oil; above same are the Bond, Euro, Swiss Franc and Silver; volatility for the BEGOS Markets is again firmly moderate and then some: both Silver and Copper (the latter at present back inside today’s Neutral Zone) have traced in excess of 200% of their EDTRs (see Market Ranges). The Gold Update cites the yellow metal still as being technically overbought near-term but fundamentally undervalued broad-term, whilst ’tis the opposite cases for the S&P 500, (technically oversold, fundamentally overvalued). The Econ Baro looks late in the session to February’s Consumer Credit. And Q1 Earnings Season gets underway.