Both Copper and the Spoo are at present above their Neutral Zones for today; none of the other BEGOS Markets are below same, and volatility is light, (Copper the sole components having traced in excess of 50% of its EDTR by Market Ranges). At Market Trends, save for Oil, the seven other markets all find their “Baby Blues” of regression trend consistency in decline, even as the Spoo itself seeks a relief rally off of yesterday’s low (4482, now 4530); by its Market Profile, the Spoo shows trading resistance initially at 4537. Meanwhile, the P/E of the S&P has notably come off from the mid-50s to the mid-40s (still “way too high”) in large part from AMZN (3.7% of the S&P 500) earnings improvement knocking its own P/E down from 300+ to just over 100. With much of Q2 Earnings Season in the books, 57% of the reporting S&P 500 constituents have improved their bottom lines over a year ago.