The BEGOS Markets and many global exchanges are closed as the long weekend begins. Just a few notes: the S&P 500 now at 5283 is now -14.1% below its all-time high of 6147, and is “textbook oversold” through the past 11 trading days; the P/E however remains perilously high at 39.2x, even as Q1 Earnings Season is running at an above-average pace for year-over-year improvement; still, the Spoo settled its week -371 points below its smooth valuation line (see Market Values). On the other hand, Gold — whist still fundamentally undervalued — is +352 points above its smooth valuation line and is “textbook overbought” these past five sessions. More tomorrow in our 805th consecutive Saturday edition of the Gold Update. StateSide bourses resume trading on Monday, however those for Europe not until Tuesday. Bonne Fête de Pâques à Tous!