17 August 2023 – 09:15 Central Euro Time

The Bond is at present below its Neutral Zone for today; both Silver and Copper are above same, and volatility is light-to-moderate. Oil confirmed its “Baby Blues” (see Market Trends) as dropping below their +80% axis; as tweeted (@deMeadvillePro) yesterday, typical downside price follow-through would suggest we see the 74s, 73s, 72s near-term; (note that cac volume is beginning to roll from September into that for October; both cacs are currently in the 79s). For the S&P 500, the recent selling has been light vis-à-vis MoneyFlow, even as earnings have hardly been impressive. The Econ Baro wraps its week today with metrics including August’s Philly Fed Index and July’s Leading (i.e. “lagging”) Indicators.