The Euro, Swiss Franc, Silver and Copper are all at present above today’s Neutral Zones; the rest of the BEGOS Markets are within same, and session volatility again is light. For the precious metals by Market Trends, the “Baby Blues” of trend consistency continue to fall for both Silver and Gold; but the trends currently are directionally opposed, that for the white metal being negative, yet still positive for Gold, (basis 21-day linear regression); volume-dominant Market Profile support for Silver is 77.65 whilst for Gold ’tis 4948. The ongoing above-average Q4 Earnings Season for the S&P 500 has served to bring its “live” (ttm) P/E down from the 50s into the 40s, (still a far cry above Jerome Cohen’s 11x-15x for a bull market); too, the S&P remains practically yieldless at 1.143% vs. the essentially riskless 3mo T-Bill’s annualized 3.590%, i.e. more than triple the return of the all-to-risk S&P. The Econ Baro looks to slightly-delayed January data for Payrolls, plus that month’s Treasury Budget.