Both the Euro and Spoo are at present above today’s Neutral Zones, whilst Gold is below same; BEGOS Markets’ volatility is light. Silver by its Market Profile has been flirting either side of its most volume-dominant price of the past fortnight at 58.90, (currently 58.42). Amongst the five primary BEGOS components, the best current correlation is positive between the Euro and Gold: indeed by their 21-day negative linregs, their “Baby Blues” paths of trend consistency are quite similar (see Market Trends). Looking at Market Rhythms for pure swing consistency, the Top Three (10-test basis) are the non-BEGOS Yen’s 1hr MACD, and both Gold’s daily Moneyflow and 15mn Parabolics; too, (24-test basis) we’ve Copper’s 6hr MACD, the Swiss Franc’s 30mn Parabolics and Oil’s 2hr MACD. For the Econ Baro we’ve July’s NY State Empire Index, plus June’s wholesale piece of the inflation puzzle by the PPI: yesterday’s CPI data was indeed surprisingly deflationary by the headline level (-0.4%), supporting the case for the FOMC to sit come 29 July, contra to our long-running notion that they need raise, with the “Fed-favoured” PCE not arriving until after the meeting (30 July). And late in the session comes the Fed’s Tan Tome.