09 May 2023 – 09:17 Central Euro Time

Copper is the sole BEGOS Market at present outside (below) today’s Neutral Zone; otherwise, volatility is again mostly light. Of note for Market Rhythms, leading the pack for consistency (of the 405 studies tested per night) is the Bond’s 1hr MACD. We had quite the surprise in seeing the P/E for the S&P 500 leap to its present level of 78.7x; it now appears that was due to a data broadcaster error which is being assessed; regardless, the still high “live” level of 54.2x is validated by the low level of incoming Q1 Earnings even as share prices remain extraordinarily high: see too our S&P Valuation and Rankings page for the cap-weighted truth. Whilst nothing is due today for the Econ Baro, StateSide debt ceiling discussions are said to get underway today.