S&P 500 Futures Daily Insights for Tue 22 Nov 2022
Low volume, tight range day with one easy-to-miss bullish structural development
GDR Model Insights for the Current Week
GDR Model Performance (2022): +21.02%
Market Tone: Bullish (previous week: Potential Transition to Bullish)
Positioning: +252.27% Long (previous day: +249.52% Long)
Commentary: GDR Model continues in Bullish mode.
S&P 500 Market Structure Insights for Tomorrow
Today was a relatively low volume, tight range day without much new to point out beyond the structural markers highlighted in yesterday’s update. There is however one key structural development: the Low from Friday, which barely had any Excess, was taken out and replaced by today’s Low, which has proper Excess. Typically Lows (and Highs) with Excess tend to be much more durable than those that don’t have Excess. The path of least resistance remains up.
Potential Market-Moving Events Tomorrow
11:00am - FOMC Member Mester Speaks
02:15pm - FOMC Member George Speaks
02:45pm - FOMC Member Bullard Speaks