17 May 2024 – 08:16 Central Euro Time

‘Tis a fairly quiet start to Friday on the heels of a heavy week of incoming metrics for the Econ Baro, itself in a rather severe plunge. At present, just Copper is outside (above) today’s Neutral Zone, and BEGOS Markets’ volatility is mostly light, the red metal being the only component having thus far traced in excess of 50% (55%) of its EDTR (see Market Ranges). Going ’round the Market Values horn for the five primary BEGOS components (real-time readings): the Bond is nearly +3 points “high” above its smooth valuation line, the Euro +0.02 points “high”, Gold +56 points “high”, Oil -3.6 points “low”, and the Spoo +205 points “high”, the S&P itself having extended its “textbook overbought” stance through a seventh consecutive trading day. The Econ Baro completes it significantly down week with April’s Leading (i.e. “lagging”) Indicators. And today is the final day of Q1 Earnings Season, which for the S&P 500 has been somewhat sub-par by year-over-year growth.