25 July 2023 – 09:10 Central Euro Time

Our two Euro Currencies plus the metals triumvirate are above today’s Neutral Zones; the balance of the BEGOS Markets are within same, and volatility is light-to-moderate, the metals garnering the most amount of ranginess to this point. The S&P 500 yesterday recorded its 35th consecutive day as “textbook overbought”, the “live” P/E (futs-adj’d) now 57.7x. Looking to Market Rhythms, on a 10-test swing basis the most consistent studies are the Bond’s 30-min. MACD and the Euro’s daily MoneyFlow, whilst on a 24-test swing basis the best of the bunch are Oil’s 15-min MACD and 15-min. Parabolics, plus the Yen’s (not yet an official BEGOS Market) 15-min. MoneyFlow. By Market Values, we’ve Oil (in real-time) better than +7 points above its smooth valuation line, whilst the Spoo is +116 points above same. The Econ Baro looks to July’s Consumer Confidence.