We were a bit surprised to see the first read on Q4 GDP come in as well as it did at +2.9%, albeit a slower pace than that finalized for Q3’s +3.2%; the Econ Baro’s decidedly negative tilt suggested the number would be notably weaker; we’ll see how the two revisions play out. At present, the Bond and Silver both are below their respective Neutral Zones for today; none of the other BEGOS Markets are above same, and volatility is yet again mostly light. The “live” futs-adj’d P/E of the S&P is 40.1x with the Index now “textbook overbought” for 10 consecutive trading days. Oil’s trade has narrowed since the 12-hr. MACD turned negative, however price has (yet) to let go to the downside; too by Market Values, price continues to hover above its smooth valuation line. Amongst today’s incoming metrics for the Baro are December’s Pending Home Sales, Personal Income/Spending, and the Fed’s favoured inflation gauge of Core PCE Prices.