Volatility is thus far the watchword this morning, that for the BEGOS Markets ranging from moderate-to-robust, the EuroCurrencies notably having already traced well in excess of 100% of today’s EDTRs (see Market Ranges) on the heels of the Dollar Index yesterday having hit an 18-month high. Presently, the Bond, Euro, Swiss Franc, Gold and Silver are all above today’s Neutral Zones, whilst Copper, Oil and the Spoo are below same. The Spoo yesterday passed beneath its Market Magnet, suggestive of still lower prices near-term: structurally (price currently 7740), we can see retests initially of the 01 October low (7673) followed by that of 16 September (7575); Q3 Earnings Season thus far for the 16 S&P 500 constituents having reported is excellent; however, the overall valuation issue remains the broad cap-weighted summation of earnings being too low to support the level of the Index, the futs-adj’d “live” P/E at this instant 70.4x (or ex-CRWD 46.5x). Cac volume for Oil is rolling from November into December. And a significant load of incoming metrics is due for the Econ Baro, including October’s NY Empire State and Philly Fed Indices, September’s wholesale inflation via the PPI, plus the month’s Retail Sales, and August’s Business Inventories.