Apologies as there was a delay in getting yesterday’s commentary posted; ’tis been resolved and is there now. On to today, our key thought is ’tis amazing that 34 of the past 39 monthly Leading Indicators reports have been negative, the pace of earnings improvement weakening, and yet the S&P 500 is making all-time highs: fairly startling stuff. At present this Tuesday, Gold is the only BEGOS Market outside (below) today’s Neutral Zone; session volatility is light. The Spoo’s “Baby Blues” (see Market Trends) of linreg consistency continue to slip, however slightly, the real-time reading now +76%: as regular followers know, having gone beneath the +80% axis generally leads to lower prices near-term. Nothing is due today for the Econ Baro. And as to the noted weakening Q2 Earnings Pace, for the 47 S&P constituents having thus far reported, just 62% have bettered their bottom lines from the like quarter a year ago; such improvement through the years averages 66%. We sense the S&P is quite near “The Sell”.