07 Oct ’22, 09:20 Central Euro Time:

As is not unusual for StateSide Payrolls day, all eight BEGOS Markets are trading at present within their Neutral Zones, and volatility is light. The direction to which the S&P 500 resolves itself post-payrolls ought be indicative of whether or not the contra-trend bounce is complete; (obviously by fundamentals, the S&P remains severely expensive). For better than a month, the five primary BEGOS Markets all have essentially been in positive correlation with one another in directional opposition to the Dollar; thus at Market Values, there are no overly extreme deviations from valuation at present: in real-time the Bond shows as 4 points low, the Euro as 1 point high, Gold as 46 points high, Oil as 4 points high, and the Spoo as 134 points low. By Market Trends, the case remains that all the components (save for Silver) are in negative regression trends. In addition to September’s Payrolls data, the Econ Baro looks to August’s Wholesale Inventories and Consumer Credit.