Following yesterday’s significant leap in ADP’s Employment level, the BEGOS Markets are quiet, all eight components at present within their respective Neutral Zones for today, the Econ Baro awaiting Labor’s Payrolls data; thus, volatility is light across the board. Even as the S&P 500 recorded another down day, it still remains “textbook overbought”; for the Spoo, its “Baby Blues” (see Market Trends) are in real-time notably dropping lower thus far today; and by the Spoo’s Market Profile, much of its “gap” from 4485-4421 was hoovered yesterday on the heels of the strong ADP number, the obvious notion being the Fed shall continue to press the rate rise pedal. Mind our Earnings Season page as that for Q2 is now underway.