Macro Outlook - 12 January 2026

Macro Outlook Jan 12, 2026

You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.

US Dollar Down (->20D trough). Gold Up (->40D peak). Oil Up (->40D peak). Copper Up (80D trough). USDJPY Up (40D trough). EURUSD Up (80D trough). SPX E-minis Down (20D peak). Nikkei Up (->20D peak). Bitcoin Down (80D trough). Ten Year Notes Down (->40D trough).

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.