As in a mirror when ’round this time yesterday when all the elements of the Metals Triumvirate were above the day’s Neutral Zones, today all three are below same; the other BEGOS Markets are within their said Zones, and session volatility with wholesale inflation in the balance is moderate. Despite yesterday’s -0.9% decline in the S&P 500, the Index remains “textbook overbought” now into a 24th consecutive trading day. June’s headline CPI was deflationary, furthering the case for the Fed to move with a rate cut come 31 July, such move reinforced by the plummeting Econ Baro, (which we oft think the Fed doesn’t see); further mention on that in tomorrow’s 765th consecutive Saturday edition of The Gold Update. And the Baro completes its week with July’s UofM Sentiment Survey, plus June’s PPI.