Following an across-the-board down day for all eight BEGOS Markets, we’ve at present the Euro, Swiss Franc, Gold, Silver and Spoo all above their respective Neutral Zones for today; the other three components are within same, and volatility is moderate-to-robust, Gold notably already having traded 90% of today’s EDTR (see Market Ranges). Prior to yesterday’s downdraft for the S&P, we’d herein penned early Tuesday that “…for the S&P … ’tis so overcooked to this point both fundamentally and technically that some degree of downside hoovering awaits; perhaps ’twill be a ‘sell the priced-in’ Fed announcement…” which indeed resulted: ’twas the S&P’s fifth-worst one-day points slide (-178) in its history and on a percentage basis (-2.9%) in nearly the 99th percentile of worst one-day losses. In midst of it all, by Market Values, the Spoo reached back down to its smooth valuation line. Incoming metrics for the Econ Baro today include Q3’s final GDP read, December’s Philly Fed Index, plus November’s Existing Home Sales and Leading (i.e. “lagging”) indicators: that latter are supposed to be mildly negative, but an “unch” or mildly positive read wouldn’t surprise us given the Baro’s recent resilience.