S&P 500 Daily Perspective for Wed 9 Oct 2024

GDR Model Performance

Please see the Performance page for more detailed performance numbers, how they’re calculated and a chart.

GDR Model Outlook

The GDR Model is bullish to neutral following considerable weakness in breadth and momentum to start the week. Remember, this model is (mostly) price-blind and focuses almost exclusively on the market’s underlying strength or weakness.

Note on the Fundamentals Outlook (as of 17 June 2024):

for the first time in a while the model is showing stocks as being richly valued (i.e. overpriced). Note that this is just a barometer to help guide longer-term decision-making.

GDR Model Position

As mentioned above, the GDR Model is not priced based, and today was a perfect example of that; in terms of price, today’s rally looks relatively strong, however, the model deemed it to be weak. As such, there is no material change in positioning.

There are major data releases every day for the rest of the week, so whether the market remains weak or strengthens can change in a flash.