S&P 500 Futures Daily Insights for Fri 16 Dec 2022
GDR now likely to return to Transition Mode while Market Profile suggests further downside is likely
GDR Model Insights for the Current Week
GDR Model Performance (2022): +17.20%
Market Tone: Bullish (previous week: Bullish)
Positioning: +265.52% Long (previous day: +247.84% Long)
Commentary: unless there is some drastic upside in the market tomorrow (unlikely), GDR will almost certainly return to Transition Mode after the close tomorrow. Prepare accordingly
S&P 500 Futures Market Profile Insights for Tomorrow
While yesterday Market Profile was relatively more Bullish than Bearish, today makes it clear that the odds of further downside in the near-term are very high. This became clear when the market opened on a Gap lower that failed to fill. There are now 3 consecutive Excess Highs, and today’s low barely has any Excess.
As always, the market can change on a dime and we have seen that often enough lately, so don’t take any analysis for granted.
Potential Market-Moving Events Tomorrow
09:45am - S&P Global Composite PMI, Manufacturing PMI, Services PMI