Both Gold and Copper are at present trading above their respective Neutral Zones for today; the other BEGOS Markets are within same, and volatility is light. Yesterday’s S&P gain was sufficient to maintain a positive linear regression trend for the Spoo by Market Trends; thus Oil continues to be the only component whose such trend is negative. Stocks’ rally pushed the “live” P/E of the S&P now up to 38.4x (futs adj’d). Market Profile support for the Spoo (basis March) is 3994-3992. The Econ Baro awaits November’s CPI. (Note: tomorrow’s post will be delayed from this usual posting time, but we look to get it in ahead of the Fed).
he Spoo by Market Trends