22 July 2024 – 08:28 Central Euro Time

Both the Bond and Spoo are at present above today’s Neutral Zones, whilst Silver is below same; volume is pushing toward moderate. The Gold Update cites price’s “pop n’ flop” per last week’s run to an All-Time High at 2488 only to have since succumbed to 2396; whereas Gold on its record run reached some +80 points above its smooth valuation line (see Market Values), ’tis in real-time just +20 points above that metric; the other four primary BEGOS Markets are priced relatively close to their respective valuation lines. The Econ Baro is quiet today with 10 items due in the week’s balance including the first peek at Q2 GDP and the “Fed-favoured” Core PCE for June. Q2 earnings reports become more voluminous at the week unfolds: so far for the S&P 500 with 52 constituents having reported, 88% have beaten “estimates” … but just 65% actually improved their bottom lines from the like quarter a year ago; the futs-adj’d “live” P/E is 41.1x.