Both the Euro and Spoo are at present above today’s Neutral Zones; none of the other BEGOS Markets are below same, and volatility is again light. The Spoo has made another all-time high this morning such that should the current area hold, ‘twould pull the S&P 500 up to a record high at its open. The Bond’s “Baby Blues” (see Market Trends) of linreg consistency confirmed closing below their key +80% axis: we thus sense a run from here (114^31) down at least into the very low 114s if not the mid-113s: July’s very inflationary PPI ought make it clear for no rate cut perhaps through the balance of this year. By correlations amongst the five primary BEGOS components, the best currently is negative between the Euro and Oil, the latter for which cac volume is rolling from September into that for October. 9 metrics come into the Econ Baro today, notably including August’s NY State Empire Index and the UofM Sentiment Survey, July’s Retail Sales, Ex/Im Prices and IndProd/CapUtil, plus June’s Business Inventories. Too, ’tis the final day of Q2 Earnings Season.