GDR Model Weekly Insights for Tue 17 Jan 2023
Market Profile continues to suggest the path of least resistance is up
Review: Performance as of the close of 13 Jan 2023
GDR Model Insights for the Week Ahead
Commentary: after a few weeks of whipsaw, GDR is awaiting some stability before re-entering a new position. Should last week’s strength continue this week then GDRwill almost certain enter a Long position next week.
S&P 500 Futures Market Profile Insights for Today
Near-Term Outlook: Spike Rules, potential for upside but near top of Balance
Last Friday was yet another strong up day that ended with a Spike Higher. Late December and early January may have conditioned us to be wary of Balance Zone edges, but today should provide some clarity relatively early on:
Bullish Scenario: the Spike Base from Friday at 4003 provides support and the ES breaks out of the current Balance Zone
Bearish Scenario: the close above the Balance Zone on Friday is rejected and the ES trades back to the bottom of the Balance Zone at around 3925
Neutral Scenario: the market trades mostly sideways in anticipation of the PPI and Retail Sales data releases tomorrow as it awaits further confirmation that Inflation worries now belong in the past
Finally, take note that Earnings Season starts in earnest today.