S&P 500 Daily Perspective for Wed 3 Jul 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 neutral on balance, but the market has been showing mostly weakness of late. Either some strength returns to the market, or there may be a chance for some material downside ahead…

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

The GDR Model currently has tentatively opened a modest long position as the lack of volatility continues to counterbalance the market’s underlying weakness. The model is likely to remain nimbler than usual for the foreseeable future.

S&P 500 Futures Market Profile Chart