The Euro, Silver and Copper are at present above today’s Neutral Zones; the other BEGOS Markets are within same, and volatility is mostly light. The Spoo’s “Baby Blues” (see Market Trends) are basically on their key +80% axis: an up day likely keeps the Short signal at bay through today; both the Spoo and S&P 500 itself yesterday recorded all-time highs both intra-day as well as for settles; the S&P is 17 days “textbook overbought” through yesterday, and the futs-adj’d P/E is presently 46.9x; per usual, the “Baby Blues” shall alert us to the next downside move. Whilst there’s quite a bit of jubilation early on in Q2 Earnings Season over companies having beaten estimates (85% thus far for S&P 500 constituents), only 64% (a below average pace) have actually bettered their bottom lines from the like quarter a year ago. The Econ Baro wraps its robust upside week with July’s UofM Sentiment Survey, plus June’s Housing Starts/Permits.