Both Silver and Copper are at present below today’s Neutral Zones; the six other BEGOS Markets are within same, and session volatility is light-to-moderate. The S&P 500 is now “textbook overbought” through the past 14 consecutive trading days: there were significantly longer overbought stints during 2024, but ’tis something of which to be aware, especially given the “live” (futs-adj’d) P/E now at 48.8x and a yield of 1.243% less than a third of that for the 3mo US T-Bill of 4.228% annualized. At Market Trends we’re minding the Bond’s “Baby Blues” of trend consistency which are just starting to roll over to the downside with inflation data due both tomorrow and Thursday. And at Market Values the most extreme deviation is Gold’s being (in real-time) +216 points “high” above its smooth valuation line, pricing reaching another All-Time High earlier today at 2968. Again, ’tis a quiet session for the Econ Baro.