23 December 2022 – 09:23 Central Euro Time

The members of the BEGOS Markets’ metals triumvirate are all at present above today’s Neutral Zones; none of the other components are below same, and volatility is still for this time of the session mostly light. Yesterday in pointing to the Spoo’s swiftly falling “Baby Blues” (see Market trends), the high-to-low range was -131 points; our “live” P/E of the S&P is now 35.7x. As well in the overvalued sensed, the S&P itself (3822) by our quarterly MoneyFlow reading is 549 points too high; however by Market Values, the Spoo (in real-time) having come off a bit now shows as 130 points too low, (of course, the MoneyFlow is a broader, bearish measure). The Econ Baro finishes its busy week with metrics including November’s Durable Orders, New Home Sales, Personal Income/Spending and the Fed’s favoured gauge of inflation: Core PCE Prices. Merry Christmas to Everyone Everywhere!