Both the Swiss Franc and Gold are below today’s Neutral Zones; the other six BEGOS Markets are within same, and volatility is again moderate, although like yesterday ’round this time, Oil has traced but 18% of its EDTR (see Market Ranges). At Market Trends, Gold’s “Baby Blues” of trend consistency are provisionally (in real-time) dropping below their key +80% axis, indicative (upon confirmation) of lower prices near-term: recent missives of The Gold Update have been anticipative of a run down; looking at Market Values in real-time, Gold is +107 points “high” above its smooth valuation line. By that metric for the other four primary BEGOS components: the Bond shows as nearly +4 points “high”, the Euro as essentially in line, Oil as -6.25 points “low” and the Spoo now as -76 points “low”. The week’s selling in the S&P 500 has actually pushed it down into “textbook oversold” territory, however the Index remains dangerously high by its “live” (futs-adj’d) P/E of 44.6x. Included in today’s incoming metrics for the Econ Baro are January’s Durable Orders and Pending Home Sales, plus the first revision to Q4 GDP.