We start the week with just the Swiss Franc at present outside (below) its Neutral Zone for today; otherwise, BEGOS Markets’ volatility is quite light, again within the context that by Market Ranges, EDTRs have notably expanded of late: for the Spoo, ’tis now 120 points. Too, by Market Values, the Spoo is (in real-time)-195 points below its smooth valuation line; the S&P 500 itself is “textbook oversold” through 12 consecutive trading days; the “live” P/E however remains exceedingly high at a futs-adj’d (i.e. in real-time) 38.8x. The Gold Update takes to task the hysteria of the “FinMedia & Herd”, specifically with respect to the selling of stocks a week ago: in the missive, the logarithmic chart of the S&P perfectly makes the point. The Econ Baro gets packed with 18 metrics this week, beginning today with July’s Treasury Budget; and this is the final week of Q2 Earnings Season.