All eight BEGOS Markets at this moment are above water; the sole one above its Neutral Zone for today is Copper; session volatility is quite light. At Market Trends, we still await the Bond’s
“Baby Blues” to turn the corner up through their -80% axis. Too, per correlations amongst the five primary BEGOS Markets, the best currently is positive between the Euro and Spoo. Yesterday, the S&P 500 dropped a net -1.1%; however its Moneyflow suggested a fall of -3.8% to be more in order: as this is a leading indicator, we look for lower S&P levels near-term; the Spoo (currently 5960) by its its Market Profile shows 5935 as its last bastion of near-term support. The Econ Baro looks to December’s ADP Employment data, plus November’s Wholesale Inventories and (late in the session) Consumer Credit; with the StateSide equities not trading tomorrow, last week’s Initial Jobless Claims also come into the Baro today. The FOMC’s 18/19 Meeting Minutes shall be released.