Silver’s late-in-the-session drop yesterday of -12% prompted us to query on “X” (@deMeadvillePro) as to if the high was in place. However this morning, Silver is back above its Neutral Zone for today as are Gold, Copper and the Spoo; Oil is below same, and BEGOS Markets’ volatility is moderate, save for Silver which already has traced 141% of its EDT (see Market Ranges). Silver’s high yesterday was 117.70 whereas present price is 112.44 (+8.3% on the session). For the S&P 500, earnings improvements have driven the P/E down to 47.3x — still a dangerously high ratio — but at least well off it having been above 64x in the prior week. Thus far in Q4 Earnings Season, 52 constituents have reported of which 38 (73%) have bettered their bottom lines from Q4 a year ago, which is an above average pace. For the Econ Baro today we’ve the January read of Consumer Confidence.