The Euro, Swiss Franc, Silver and Copper are all at present above their respective Neutral Zones for today; none of the other BEGOS Markets are below same, and volatility is light-to-moderate. Dough continues to flow into the S&P 500 as the FinMedia declares resumption of a “bull market”, a Fed “pause” on Wednesday (not by our math), and that earnings are “soaring”. (Really? Again, see the current edition of The Gold Update). At Market Values, the Spoo (in real-time) is +291 points above its smooth valuation line: even without the freshly-added +44 points of September contract premium, that’s still an extreme deviation of +247 points. The Econ Baro looks to May’s CPI.