18 June 2024 – 08:44 Central Euro Time

Following another record-high day for the S&P 500 (the “live” fut’s adj’d P/E now 42.1x; and by our MoneyFlow page, dough continues to pour into this vastly overvalued Index), we’ve Oil at present the sole BEGOS Market outside (below) its Neutral zone for today; session volatility is mostly light. At Market Values, the insatiable Spoo is (in real-time) +285 points above its smooth valuation line; the other four primary BEGOS components are not trading excessively far from their respective valuation lines; of note therein, Oil yesterday moved above its valuation line, which by rule is a Long signal, whilst at Market Trends, Oil’s linreg looks poised to rotate from negative to positive. For the Econ Baro we await May’s Retail Sales and IndProd/CapUtil, plus April’s Business Inventories.