S&P 500 Daily Perspective for Wed 9 Aug 2023

Today ended on a spike higher, but the value area downtrend is now very clear

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 weakness the GDR Model picked up on starting last week seems to be gathering momentume. It remains to be seen whether it will be sustained.

GDR Model Position

The GDR Model has gone back to slightly long again. These are small positions and should be interpreted as the market being indecisive at this point.

S&P 500 Futures Market Profile Chart