S&P 500 Daily Perspective for Mon 21 Aug 2023

Testing balance zone low, monitor for continuation

GDR Model Performance

This year has been challenging for the GDR Model’s style due to low confidence in the market at the start of the year.

GDR Model Outlook

The GDR Model is overall neutral to bearish. Despite the price weakness, the long-term outlook has remained stubbornly bullish. This may suggest that the current sell-off isn’t very serious (yet).

GDR Model Position

The GDR Model remains slightly short. These are small positions and should be interpreted as the market being indecisive at this point.

S&P 500 Futures Market Profile Chart