15 November 2024 – 08:26 Central Euro Time

Ahead of a significant load of incoming Econ Baro data, we find the BEGOS Markets fairly mixed, the Euro and Swiss Franc at present above today’s Neutral Zones, whilst below same are Oil and the Spoo; session volatility is mostly moderate. Yesterday the S&P 500 — even being down — posted its 22nd of the past 26 trading days as “textbook overbought”; specific to the Spoo, (for which its all-time high is 6053 per this past Monday), price appears on a downward bent to at least test the prior 17 October high of 5927; the Spoo’s daily MACD seems headed for a negative crossing early into the ensuing week, although by Market Trends, the Spoo’s “Baby Blues” still are in ascent. Again, we’re extending our coverage of Q3 Earnings Season an extra week: thus far for the S&P, 65% of bottom lines have been better over Q3 of a year ago: that is a below-average rate of improvement. Of note, Gold yesterday reached down to the “average” adversity level of 2555 that was mused in last Saturday’s Gold Update; tomorrow brings edition No. 783. And as to the busy Baro, it looks to November’s NY State Empire Index, October’s Retail Sales, Ex/Im Prices and IndProd/CapUtil, plus September’s Business Inventories.