The metals triumvirate and Oil are at present trading below today’s Neutral Zones; the other BEGOS Markets are within same, and volatility is again at this time mostly light. The S&P from its 12 September high (4119) to its 13 October low (3495) looks to have completed a Golden Ratio retracement in topping out ’round 3881 on Wednesday: should that mark the end of this counter-trend rally, the severely negative MoneyFlow is suggestive of an S&P move toward the 3550-3350 area, (itself within the overall 3600-3200 support zone), especially with Q3 Earnings Season having not made a dent in the P/E ratio (the futs-adj’d “live” reading now 34.0x). Incoming metrics for the Econ Baro today include September’s Personal Income/Spending, the Fed’s favoured Core PCE Index for inflation, and Q3’s Employment Cost Index.