Yesterday the Econ Baro tied for its worst single-day drop in its 25-year history, the data marked (at least for the present) by deflationary shrinkage. Today at the moment, we’ve both the Bond and Gold above their Neutral Zones, whilst below same is Copper; volatility is mostly light. One wonders if (similar to last year ’round this time) the S&P has printed its high (4015) for this year, given lack of supportive earnings and the negative bias in the MoneyFlow by our broadest (quarterly) measure; one Market Rhythm we’re minding for the Spoo is its daily MoneyFlow (data provider version) to confirm a cross below the 0.50 level: typically this has led to drops in the area of some 140 points, (which in the big picture for the S&P is not that much considering the extreme overvaluation). The Econ Baro looks to metrics including January’s Philly Fed Index and December’s Housing Starts/Permits.