S&P 500 Daily Perspective for Tue 18 Jun 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. The CPI data release last week brought meaningful strength back into the market yesterday, but the market has been showing weakness on the days that followed.

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). This is just a barometer to help guide decision-making. Moreover, depending on what the market does, this portion of the model may shift between "Fair Value” and “Rich”.

GDR Model Position

The trend up is undeniable, but because the market is showing weakness the GDR Model is carrying a modest short position. The model is likely to remain nimbler than usual for the foreseeable future.

S&P 500 Futures Market Profile Chart