The BEGOS Markets are fairly quiet ahead of “Fed-favoured” inflation data due for April: both the Euro and Swiss Franc are at present a bit below their Neutral Zones for today; otherwise the balance of the components are within same, and volatility is light. The Spoo’s “Baby Blues” (see Market Trends) confirmed closing yesterday below their key +80% axis: year-over-year there’ve been six prior such negative crossovers, price then averaging -96 points of downside within the ensuing 21 trading days (one month); and by Market Values (in real-time), the Spoo still is +81 points above its smooth valuation line; too, this past Wednesday, the Spoo crossed below its Market Magnet, also indicative of further near-term price fallout; there is some structural support for the Spoo in the 5154-5036 zone, (i.e. beginning some -90 points below present price). The Econ Baro looks to May’s Chi PMI, plus April’s Personal Income/Spending and Core PCE Prices.