17 October 2025 – 08:45 Central Euro Time

The Bond, Euro, Swiss Franc and Gold are all at present above their respective Neutral Zones for today; below same are Silver, Copper and the Spoo, (only Oil is within same), and session volatility for the BEGOS Markets is moderate-to-robust. The fragility of the S&P 500 continues, the Spoo notably having lost -132 points in just the last 16 hours; again we point to the leading characteristic of the S&P MoneyFlow page. At close last evening, the Euro by its “Baby Blues” of linreg consistency (see Market Trends) triggered a Long signal, whilst for Copper a Short signal too was confirmed. Q3 Earnings Season is off to a good start for the S&P as 78% thus far having beaten the prior year’s like quarter; of course, problematic remains the overall level of earning is too low to support the S&P given its “live” P/E (futs-adj’d) of 48.3x at this instant. As the StateSide “shutdown” continues, none of the six metrics due for the Econ Baro today are likely to be released, (including for September Housing/Permits, Ex/Im Prices, IndProd/CapUtil).