Image Source: Unsplash

Copper is further falling this morning: netting a loss yesterday of -18.3% following tariff implications, the red metal is now down an additional -5.1%, obviously below its Neutral Zone for today, as is Oil; above same are the Bond, Euro, Swiss Franc, Gold and the Spoo; BEGOS Markets’ volatility is moderate.

Going ’round the Market Values horn of the five primary BEGOS components in real-time: we’ve the Bond basically in sync with its smooth valuation line, the Euro as -0.026 points “low”, Gold as -13 points “low”, Oil as +1.84 points “high”, and the Spoo as +258 points “high”; the S&P 500 itself is now 26 consecutive days “textbook overbought” and the futs-adj’d P/E now a whopping 48.0x.

‘This a key inflation day for the Econ Baro featuring for June “Fed-Favoured” PCE data, plus Personal Income/Spending; too due is July’s Chi PMI and Q2’s Employment Cost Index.

More By This Author: