The Bond, Swiss Franc, Silver, Copper and the Spoo all are trading at present beneath their respective Neutral Zones for today. Specific to Silver, her “Baby Blues” (see Market Trends) confirmed crossing below their +80 axis at yesterday’s close: that suggests lower Silver levels near-term; 19-dead is not out of range given the typical follow-through of this measure. As for the Spoo, even as ’tis down thus far today, it remains desperately over-extended: vis-à-vis its Market Value (live reading) price is 353 points above its smooth valuation line; for the S&P itself, ’tis now “textbook overbought” for 21 consecutive trading days (one month), not to mention the “live” P/E is 38.7x. The Econ Baro awaits July’s Retail Sales and June’s Business Inventories; too, come the FOMC Minutes from the 27 July Policy Statement.