17 July 2023 – 09:18 Central Euro Time

‘Tis a mixed start to the week for the BEGOS Markets. At present, the Swiss Franc is above its Neutral Zone for today, whilst below same are Copper and Oil; the latter’s cac volume is rolling from August into September. Session volatility is mostly light, save for Copper having already traced 80% of its EDTR (see Market Ranges). The Gold Update has more conviction that the recent low (1901 futs) may stand as the parabolic Short trend can unwind within a couple of weeks; too, the overwhelmingly extreme valuation of the S&P 500 again is emphasized: its futs-adj’d “live” P/E is 58.1x and the Spoo by Market Values is (in real-time) +156 points above its smooth valuation line. The Econ Bara awaits July’s NY State Empire Index.