All eight BEGOS Markets are at present outside of their respective Neutral Zones for today: above are the Bond, Euro, Swiss Franc, Copper and Spoo; below are Gold, Silver and Oil; session volatility is moderate-to-robust. Gold has already given back as much as 38% of last week’s +151 points gain: The Gold Update highlights Gold’s stellar week as nonetheless a contra-trend rally within the fresh weekly parabolic Short trend; key to assess this week shall be Wednesday’s PCE data for October; too, Gold is whipsawing ’round its smooth valuation line (see Market Values), today having crossed back below it. Well up thus far today is the Bond: we’d of late written our anticipation of a such a move, notably as the Bond’s “Baby Blues” (see Market Trends) have twice crossed above their -80% axis since 11 November. And Q3 Earnings Season concluded on Friday, the sub-par performance seeing 64% of S&P 500 constituents bettering their bottom lines over Q3 a year ago: the average such improvement since 2017 is 66%, and ex-COVID, 68%. The “live” (futs adj’d) P/E of the S&P is presently 44.9x.