23 August 2024 – 08:17 Central Euro Time

Silver and Copper are at present above today’s Neutral Zones; otherwise, BEGOS Market’s volatility continues as quite light, similar to that of the prior two sessions to this point. Looking at the five primary components vis-à-vis their Market Values (in real-time), we’ve the Bond nearly +4 points “high” above its smooth valuation line, the Euro +0.022 points “high”, Gold +102 points “high”, Oil -6.05 points “low”, and the Spoo +85 points “high”. The “live” P/E of the S&P 500 is 40.8x and the yield 1.332% vs. the 3mo T-Bill’s risk-free 5.025%; too, the S&P is now six days “textbook overbought”. Gold appears en route to completing a down week. albeit with FedHead Powell’s Jackson Hole address in the balance, on verra; more, of course, tomorrow in Gold Update No. 771. And simultaneous with the Chairman’s speech at 14:00 GMT comes the release of July’s New Home Sales for the Econ Baro.