23 May 2023 – 10:50 Central Euro Time

The Swiss Franc plus all three components of the metals’ triumvirate are at present below today’s Neutral Zones; none of the other BEGOS Markets are above same, and volatility is mostly moderate. Gold has traded thus far today to as low as 1956, (the prior week’s low being 1954); as previously noted, should 1942 trade before week’s end, the weekly parabolic Long trend shall flip to Short. Money continues to pour into the S&P 500: per our MoneyFlow page, the forward readings range from 100-to-600 points higher, albeit weak earnings combined with relative high interest rates ought actually see the S&P move materially lower. The rise in the Econ Baro these past three weeks certainly suggests the FOMC shall continue to raise rates. And today the Baro looks to April’s New Home Sales.