18 November 2024 – 08:01 Central Euro Time

At present, all eight BEGOS Markets are in the black, with the Metals Triumvirate and Spoo currently above their respective Neutral Zones for today; session volatility is mostly moderate. The Gold Update acknowledges our anticipated pullback in price, with potentially lower levels at least near-term as the weekly MACD confirmed a negative crossing at week’s close such that the upper 2400s would not be untoward. For the Spoo, price on Friday confirmed piercing to the downside its Market Magnet, suggestive of still lower levels; by Market Values (in real-time), the Spoo shows as +140 points “high”; and despite last week’s selling, the S&P 500 itself remains “textbook overbought” through 23 of the past 27 trading days; the futs-adj’d “live” P/E is presently 44.0x. For the Econ Baro ’tis a fairly light week, beginning today with November’s NAHB Housing Index. And Q3 Earnings Season continues into its final week.