14 August 2024 – 08:23 Central Euro Time

Copper is at present the only BEGOS Market outside (below) today’s Neutral Zone; session volatility is continues quiet given the hour. The S&P 500 yesterday fully unwound what had been a 13-session run of being “textbook oversold”, albeit in the process its “live” is now (futs-adj’d) 40.2x and the yield 1.348%; the 3mo U.S. T-Bill still yields an annualized 5.053%. Looking at Market Rhythms for pure swing consistency, topping the stack on both our 10-test and 24-test bases is Oil’s 1hr Parabolics; Oil’s trading range (closing basis) for at least the past three months is between 73 and 83, with present price of 78.94 measuring -1.43 points below its smooth valuation line (see Market Values). Gold yesterday came within 21 points of its All-Time High (2338 basis December): Gold’s EDTR (see Market Ranges) is 42 points. For the Econ Baro we’ve July’s CPI.