05 September 2024 – 08:12 Central Euro Time

At present, all eight BEGOS Markets are within their respective Neutral Zones for today, and volatility is quite light, within the context that most EDTRs (see Market Ranges) are well-elevated above their narrower levels of last Spring. By Market Trends, the Spoo’s “Baby Blues” of trend consistency yesterday confirmed having moved below their key +80% axis: there’ve been seven prior occurrences of such from a year ago-to-day, the median downside follow-through within 21 days being -48 points, but the average thereto -202 points. Looking at correlation amongst the five primary BEGOS components, the best currently is positive between the Bond and Euro. Today’s incoming Econ Baro metrics include August’s ADP Employment data and the ISM(Svc) Index, plus the revisions to Q2 Productivity and Unit Labor Costs.