21 October 2022 – 09:20 Central Euro Time

The Bond, Swiss Franc, Gold, Silver and Oil all are trading at present below today’s Neutral Zones; the other BEGOS Markets are within same, and volatility is light. Specific to the Spoo for today, we see quite a bit of overhead congestion, notably in the Market Profile. By the S&P’s MoneyFlow page, all three period measures suggest lower levels in the near-term offing. Thus far in Q3 Earnings Season, 76 S&P 500 constituents have reported, of which 40 (53%) have improved over Q3 a year ago; thus to this point, Earnings Season is not very robust in terms of bottom line improvement; the “live” P/E of the S&P is 32.6x. The Bond is trading ’round an 11-year low. And Gold has slipped below its September low to 1621. The Econ Baro has concluded its metrics input for this week: again, the recent upside bias suggests we can see a positive Q3 GDP when ’tis reported on 27 October).