28 February 2023 – 09:38 Central Euro Time

Following a rather “failed rally” yesterday for equities (the S&P having been +1.2% intraday only to finish +0.3%) we’ve the Spoo working lower still; both the Swiss Franc and Gold are at present below their Neutral Zones for today, whilst Oil is above same; session volatility is light-to-moderate. At Market Trends, the “Baby Blues” remain in swift decline for both the Swiss Franc and the Spoo; the trends of all eight BEGOS Markets remain negative. And at Market Values, the price of the Spoo has just penetrated beneath its smooth valuation line, suggestive of still lower levels. The Econ Baro looks to February’s Chi PMI and Consumer Confidence.