Toward week’s end with much anticipated data on inflation, we’ve all three elements of the Metals Triumvirate above today’s Neutral Zones; none of the other BEGOS Markets are below same, and volatility is again quite light for this hour of the session. The S&P 500 continues to pound out record highs, the mighty Index now 22 days “textbought overbought”, notably the last four days we designate as “extreme”; at our Valuations and Rankings page, amongst the Top Ten largest cap-weighted constituents, just three have P/Es less than 30, and the non-cap-weighted average for those ten is 57.2x. Too, the market-cap of the Index is now $49.3T supported by a liquid U.S. money supply of “only” $21.0T. Today’s incoming Econ Baro metrics include June’s CPI, plus late in the session the month’s Treasury Deficit.