11 September 2023 – 09:01 Central Euro Time

The BEGOS Markets begin the week with a “boom”: at present, six of the eight components are above their respective Neutral Zones for today; the two exceptions are Oil (within same) and the Bond (below same); volatility even early on is moderate-to-robust. Cac volume for the Spoo is rolling from September into December with 49 points of additional premium given the higher interest rate environment; “fair value” in toto is thus 53 points for today. The Gold Update emphasizes the precious metals needing to get swiftly off the mat following last week’s declines, even as the weekly parabolic trends for both Gold and Silver remain newly Long. The “live” P/E (40.1x) for the S&P 500 has reverted to its lifetime mean (since 2013; see too the closing graphic in The Gold Update). Whilst a busy week of 15 incoming metrics for the Econ Baro, none come due until Wednesday.