Both the Bond and Spoo are at present above today’s Neutral Zones; the balance of the BEGOS Markets are within same, and volatility is light-to-moderate. The S&P 500 yesterday completed its 31st consecutive trading day as “textbook overbought”, and the Spoo by Market Values (in real-time) is +180 points above its smooth valuation line.; the “live” P/E of the S&P is (futs-adj’d) 59.1x. By Market Rhythms on a 10-test swing basis, our two best studies are Copper’s 4-hr. MACD and the Euro’s daily MoneyFlow. More housing data arrives for the Econ Baro via June’s Housing Starts/Permits.