Macro Outlook - 18 November 2024
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.
The macro complex has been hesitating post the so-called Trump bump. The US Dollar and Bitcoin look to be in short to intermediate topping zones and S&P 500 is falling over with hedge fund short interest building. We are looking for near term upside resolutions in the Eurodollar, US Treasury notes, Copper and Oil. Gold may be in meaningful trough zone right now. Note: we are adding 10 year US Treasury notes to the weekly mix from today. As the trade-able inverse of US Yields at this stage in the cycle we think it is important to watch.
