‘Tis all quiet for the BEGOS Markets upon this marginally earlier post: all eight components are at present within their respective Neutral Zones for today, and volatility is light. Still, the S&P 500 recorded its 17th consecutive trading day as “textbook overbought” with a “live” P/E (futs-adj’d) of 40.1x as Q4 Earnings Season rolls along: thus far for the S&P, 59% (of 240 constituents having reported) have improved their year-over-year bottom lines, (thus 41% have not so done). And specific to the Spoo, we are minding its daily Moneyflow study for a settle below the 48 level (scale 0-100) as it continues to rank best for follow-through consistency amongst the 405 Market Rhythm tests run following each trading day (10-swing test basis); such sub-48 settle would suggest further price fallout. Today the Econ Baro looks to December’s Trade Deficit and Consumer Credit.